Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,524 shares of the manufacturing equipment provider’s stock after buying an additional 867 shares during the quarter. Summit Trail Advisors LLC’s holdings in Applied Materials were worth $1,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMAT. Ascent Group LLC raised its position in shares of Applied Materials by 5.8% during the 1st quarter. Ascent Group LLC now owns 2,308 shares of the manufacturing equipment provider’s stock valued at $476,000 after acquiring an additional 127 shares in the last quarter. Waverly Advisors LLC lifted its position in shares of Applied Materials by 64.3% in the 1st quarter. Waverly Advisors LLC now owns 7,078 shares of the manufacturing equipment provider’s stock valued at $1,460,000 after acquiring an additional 2,770 shares in the last quarter. Interval Partners LP increased its stake in Applied Materials by 7,433.3% in the 1st quarter. Interval Partners LP now owns 11,000 shares of the manufacturing equipment provider’s stock valued at $2,269,000 after buying an additional 11,150 shares during the period. Dynasty Wealth Management LLC acquired a new position in shares of Applied Materials during the 1st quarter worth $1,297,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Applied Materials by 8.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 15,703 shares of the manufacturing equipment provider’s stock worth $3,238,000 after buying an additional 1,218 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMAT. Citigroup reduced their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. TD Cowen cut their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. UBS Group cut their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. B. Riley cut their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.05.

Applied Materials Stock Performance

Shares of AMAT stock opened at $174.88 on Monday. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The company has a market cap of $144.17 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.65 and a beta of 1.56. The firm has a 50-day moving average of $189.83 and a 200-day moving average of $205.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. Equities research analysts forecast that Applied Materials, Inc. will post 9.5 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s dividend payout ratio is 18.58%.

Applied Materials Company Profile

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.