LPL Financial LLC Buys 48,861 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

LPL Financial LLC increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 557,566 shares of the manufacturing equipment provider’s stock after purchasing an additional 48,861 shares during the quarter. LPL Financial LLC owned 0.07% of Applied Materials worth $112,656,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMAT. Summit Securities Group LLC acquired a new stake in Applied Materials in the second quarter valued at about $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials in the 2nd quarter valued at approximately $28,000. PSI Advisors LLC grew its holdings in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Clean Yield Group acquired a new position in Applied Materials during the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank lifted its stake in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

NASDAQ AMAT opened at $174.88 on Friday. The company has a market cap of $144.17 billion, a P/E ratio of 20.31, a PEG ratio of 1.59 and a beta of 1.56. The company has a fifty day simple moving average of $189.83 and a 200 day simple moving average of $205.74. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period last year, the company earned $2.12 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. Applied Materials’s payout ratio is 18.58%.

Analyst Ratings Changes

AMAT has been the topic of a number of research reports. UBS Group decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Needham & Company LLC cut their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. B. Riley lowered their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Bank of America decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $222.05.

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.