Tandem Capital Management Corp ADV Purchases 208 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Tandem Capital Management Corp ADV raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 19,680 shares of the manufacturing equipment provider’s stock after acquiring an additional 208 shares during the period. Applied Materials comprises about 2.2% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 13th biggest holding. Tandem Capital Management Corp ADV’s holdings in Applied Materials were worth $4,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMAT. Ballentine Partners LLC increased its stake in shares of Applied Materials by 10.9% in the 3rd quarter. Ballentine Partners LLC now owns 15,561 shares of the manufacturing equipment provider’s stock worth $3,144,000 after purchasing an additional 1,535 shares in the last quarter. Busey Bank increased its position in Applied Materials by 0.8% in the third quarter. Busey Bank now owns 175,741 shares of the manufacturing equipment provider’s stock worth $35,509,000 after buying an additional 1,391 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in shares of Applied Materials by 19.7% in the third quarter. Silver Oak Securities Incorporated now owns 3,294 shares of the manufacturing equipment provider’s stock worth $671,000 after buying an additional 542 shares during the period. Mount Yale Investment Advisors LLC lifted its position in shares of Applied Materials by 8.4% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 3,456 shares of the manufacturing equipment provider’s stock valued at $698,000 after buying an additional 267 shares in the last quarter. Finally, Dakota Wealth Management grew its stake in shares of Applied Materials by 10.4% during the 3rd quarter. Dakota Wealth Management now owns 19,832 shares of the manufacturing equipment provider’s stock valued at $4,007,000 after acquiring an additional 1,864 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 1.5 %

AMAT traded up $2.75 during trading on Friday, reaching $186.50. The company had a trading volume of 104,615 shares, compared to its average volume of 6,068,855. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The stock has a market cap of $154.42 billion, a P/E ratio of 21.12, a PEG ratio of 2.66 and a beta of 1.54. The business has a 50 day simple moving average of $194.71 and a 200-day simple moving average of $208.75.

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

Applied Materials Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMAT shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Mizuho lowered their target price on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Susquehanna cut their price target on Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. B. Riley lowered their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

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.