Parcion Private Wealth LLC Buys New Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Parcion Private Wealth LLC bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,193 shares of the manufacturing equipment provider’s stock, valued at approximately $241,000.

Several other large investors have also recently added to or reduced their stakes in the business. Highland Capital Management LLC increased its position in shares of Applied Materials by 12.9% during the 3rd quarter. Highland Capital Management LLC now owns 40,546 shares of the manufacturing equipment provider’s stock valued at $8,192,000 after purchasing an additional 4,630 shares during the period. Heritage Oak Wealth Advisors LLC acquired a new position in shares of Applied Materials during the 3rd quarter valued at $362,000. Lake Street Advisors Group LLC increased its position in shares of Applied Materials by 3.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,534 shares of the manufacturing equipment provider’s stock valued at $2,533,000 after purchasing an additional 431 shares during the period. Hudock Inc. increased its position in shares of Applied Materials by 70.4% during the 3rd quarter. Hudock Inc. now owns 3,406 shares of the manufacturing equipment provider’s stock valued at $688,000 after purchasing an additional 1,407 shares during the period. Finally, Tandem Capital Management Corp ADV increased its position in shares of Applied Materials by 1.1% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 19,680 shares of the manufacturing equipment provider’s stock valued at $4,059,000 after purchasing an additional 208 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. UBS Group reduced their price objective on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, Stifel Nicolaus reduced their price objective on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $186.52 on Friday. The business’s 50-day moving average price is $193.72 and its two-hundred day moving average price is $208.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The company has a market capitalization of $154.43 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.86%. Applied Materials’s dividend payout ratio is currently 18.39%.

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.