Royal Harbor Partners LLC Grows Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Royal Harbor Partners LLC raised its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,730 shares of the manufacturing equipment provider’s stock after buying an additional 155 shares during the quarter. Applied Materials makes up approximately 0.7% of Royal Harbor Partners LLC’s holdings, making the stock its 23rd largest holding. Royal Harbor Partners LLC’s holdings in Applied Materials were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of AMAT. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Applied Materials in the fourth quarter valued at $27,000. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. L2 Asset Management LLC increased its position in shares of Applied Materials by 795.0% during the third quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock worth $41,000 after acquiring an additional 26,298 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Applied Materials in the third quarter worth about $42,000. Finally, First United Bank & Trust purchased a new position in Applied Materials in the fourth quarter valued at about $45,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMAT has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Applied Materials in a report on Friday. Citigroup upped their target price on shares of Applied Materials from $170.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. B. Riley lifted their price target on Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $260.00 target price on shares of Applied Materials in a research report on Friday. Finally, TD Cowen boosted their price target on Applied Materials from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $215.64.

View Our Latest Stock Analysis on Applied Materials

Applied Materials Stock Performance

AMAT stock traded down $1.95 during mid-day trading on Friday, reaching $212.08. 8,031,759 shares of the stock traded hands, compared to its average volume of 4,374,870. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $204.63 and a two-hundred day moving average of $179.13. The firm has a market capitalization of $176.22 billion, a PE ratio of 24.38, a P/E/G ratio of 3.16 and a beta of 1.58. Applied Materials, Inc. has a 52 week low of $120.18 and a 52 week high of $219.36.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 42.43%. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the prior year, the firm earned $2.00 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Applied Materials, Inc. will post 8.19 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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

About Applied Materials

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.