Managed Asset Portfolios LLC Lowers Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Managed Asset Portfolios LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 29.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,126 shares of the manufacturing equipment provider’s stock after selling 30,195 shares during the period. Applied Materials comprises 2.0% of Managed Asset Portfolios LLC’s portfolio, making the stock its 23rd biggest position. Managed Asset Portfolios LLC’s holdings in Applied Materials were worth $14,371,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in Applied Materials during the second quarter valued at approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials in the 2nd quarter valued at $28,000. PSI Advisors LLC lifted its stake 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 worth $37,000 after purchasing an additional 56 shares during the last quarter. Clean Yield Group bought a new stake in Applied Materials during the third quarter valued at about $33,000. Finally, First PREMIER Bank grew its stake in Applied Materials by 326.3% in the third 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 hedge funds and other institutional investors.

Applied Materials Price Performance

NASDAQ:AMAT opened at $174.88 on Friday. The firm’s fifty day moving average is $189.83 and its two-hundred day moving average is $205.72. The firm has a market cap of $144.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.65 and a beta of 1.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. Research analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft reduced their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. boosted their target price 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 fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.05.

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.