Paragon Private Wealth Management LLC Purchases Shares of 2,580 Applied Materials, Inc. (NASDAQ:AMAT)

Paragon Private Wealth Management LLC purchased a new stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,580 shares of the manufacturing equipment provider’s stock, valued at approximately $418,000.

Other hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp boosted its stake in Applied Materials by 1.7% in the 4th quarter. Mechanics Financial Corp now owns 3,957 shares of the manufacturing equipment provider’s stock valued at $641,000 after purchasing an additional 65 shares during the period. Catalyst Financial Partners LLC boosted its holdings in Applied Materials by 1.5% in the 4th quarter. Catalyst Financial Partners LLC now owns 4,496 shares of the manufacturing equipment provider’s stock valued at $729,000 after purchasing an additional 65 shares during the period. Kaizen Financial Strategies increased its holdings in shares of 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 period. Redwood Financial Network Corp raised its position in shares of Applied Materials by 4.6% in the third quarter. Redwood Financial Network Corp now owns 1,721 shares of the manufacturing equipment provider’s stock valued at $238,000 after buying an additional 75 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in shares of Applied Materials by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,894 shares of the manufacturing equipment provider’s stock valued at $469,000 after buying an additional 75 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMAT has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $260.00 price objective on shares of Applied Materials in a report on Friday. B. Riley lifted their price objective on Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a report on Friday. Citigroup boosted their price target on Applied Materials from $170.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Wells Fargo & Company upped their target price on Applied Materials from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $215.64.

Check Out Our Latest Analysis on AMAT

Applied Materials Stock Performance

Shares of Applied Materials stock traded up $9.21 during trading hours on Monday, reaching $221.29. The company had a trading volume of 2,191,947 shares, compared to its average volume of 5,800,849. Applied Materials, Inc. has a one year low of $120.18 and a one year high of $221.75. The business has a fifty day simple moving average of $204.63 and a 200 day simple moving average of $179.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a market cap of $183.87 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 3.11 and a beta of 1.58.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts anticipate that Applied Materials, Inc. will post 8.19 earnings per share 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. Investors of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a yield of 0.72%. Applied Materials’s dividend payout ratio (DPR) is currently 14.71%.

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.

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

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