Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,985 shares of the manufacturing equipment provider’s stock after selling 245 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Applied Materials were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMAT. Ritholtz Wealth Management grew its holdings in Applied Materials by 7.4% in the 4th quarter. Ritholtz Wealth Management now owns 11,367 shares of the manufacturing equipment provider’s stock valued at $1,842,000 after buying an additional 782 shares in the last quarter. Kaizen Financial Strategies increased its position in Applied Materials by 2.0% during the fourth quarter. Kaizen Financial Strategies now owns 3,733 shares of the manufacturing equipment provider’s stock worth $605,000 after purchasing an additional 72 shares during the last quarter. Hill Island Financial LLC purchased a new position in Applied Materials during the fourth quarter worth about $229,000. Professional Financial Advisors LLC acquired a new position in Applied Materials in the 4th quarter valued at about $229,000. Finally, West Oak Capital LLC grew its stake in shares of Applied Materials by 7.9% in the 4th quarter. West Oak Capital LLC now owns 11,492 shares of the manufacturing equipment provider’s stock valued at $1,738,000 after buying an additional 840 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $206.23 on Friday. The business has a 50-day simple moving average of $190.35 and a 200-day simple moving average of $161.90. The company has a market cap of $171.36 billion, a PE ratio of 24.26, a P/E/G ratio of 3.15 and a beta of 1.59. Applied Materials, Inc. has a one year low of $109.00 and a one year high of $214.91. 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 (NASDAQ:AMAT) last posted its quarterly 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. The company had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.48 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 EPS. On average, equities research analysts forecast that Applied Materials, Inc. will post 8.03 EPS for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.78%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio is presently 15.06%.

Wall Street Analyst Weigh In

AMAT has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 price target on shares of Applied Materials in a research report on Monday, March 4th. TD Cowen upped their price target on Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Morgan Stanley raised their price objective on Applied Materials from $142.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Susquehanna boosted their price objective on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Finally, Bank Of America (Bofa) increased their target price on shares of Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average price target of $191.83.

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.