Main Street Research LLC Boosts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Main Street Research LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,629 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,494 shares during the period. Applied Materials comprises 2.0% of Main Street Research LLC’s investment portfolio, making the stock its 26th biggest position. Main Street Research LLC’s holdings in Applied Materials were worth $24,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Applied Materials by 5.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,020,894 shares of the manufacturing equipment provider’s stock worth $134,555,000 after purchasing an additional 54,261 shares during the last quarter. Zions Bancorporation N.A. boosted its position in shares of Applied Materials by 92.3% during the 1st quarter. Zions Bancorporation N.A. now owns 3,180 shares of the manufacturing equipment provider’s stock worth $419,000 after purchasing an additional 1,526 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Applied Materials by 21.7% in the first quarter. Brown Brothers Harriman & Co. now owns 8,981 shares of the manufacturing equipment provider’s stock valued at $1,184,000 after buying an additional 1,604 shares in the last quarter. Merit Financial Group LLC acquired a new position in Applied Materials during the 1st quarter worth about $315,000. Finally, West Family Investments Inc. grew its position in Applied Materials by 12.6% in the 1st quarter. West Family Investments Inc. now owns 2,215 shares of the manufacturing equipment provider’s stock valued at $292,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT traded up $3.21 on Tuesday, reaching $208.89. The stock had a trading volume of 1,926,380 shares, compared to its average volume of 6,171,946. The stock has a market cap of $173.57 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 3.11 and a beta of 1.59. Applied Materials, Inc. has a 12-month low of $109.00 and a 12-month high of $214.91. The business’s 50-day moving average price is $200.72 and its 200 day moving average price is $168.34. 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 issued its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.48 billion. During the same quarter in the prior year, the business earned $2.03 EPS. Applied Materials’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts expect that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.77%. The ex-dividend date is Wednesday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s payout ratio is 15.06%.

Analyst Ratings Changes

Several analysts have recently issued reports on AMAT shares. B. Riley increased their price target on shares of Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. TD Cowen boosted their price target on shares of Applied Materials from $185.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. The Goldman Sachs Group increased their price objective on Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Evercore ISI assumed coverage on Applied Materials in a research note on Tuesday. They set an “outperform” rating and a $260.00 target price for the company. Finally, Barclays lifted their price objective on Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.50.

About Applied Materials

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.