AM Squared Ltd Takes $5.97 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

AM Squared Ltd bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,834 shares of the manufacturing equipment provider’s stock, valued at approximately $5,970,000. Applied Materials comprises approximately 12.1% of AM Squared Ltd’s investment portfolio, making the stock its 3rd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in AMAT. Financial Freedom LLC purchased a new stake in Applied Materials during the fourth quarter worth about $25,000. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Applied Materials by 76.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Applied Materials in the third quarter worth about $39,000. Quarry LP purchased a new position in shares of Applied Materials in the first quarter worth about $40,000. Finally, RVW Wealth LLC purchased a new position in shares of Applied Materials in the third quarter worth about $41,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 4.3 %

Shares of NASDAQ AMAT traded down $8.91 during mid-day trading on Wednesday, hitting $200.57. The stock had a trading volume of 3,491,883 shares, compared to its average volume of 6,158,769. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. Applied Materials, Inc. has a 1 year low of $109.12 and a 1 year high of $214.91. The business has a 50 day moving average price of $201.54 and a two-hundred day moving average price of $168.85. The firm has a market cap of $166.65 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 3.08 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The company had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post 8.04 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.80%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s payout ratio is presently 15.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMAT shares. B. Riley lifted their target price on shares of Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Morgan Stanley raised their price objective on shares of Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Bank Of America (Bofa) raised their price objective on shares of Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. TD Cowen raised their price objective on shares of Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Raymond James raised their price objective on shares of Applied Materials from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.50.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.