Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,334 shares of the manufacturing equipment provider’s stock after purchasing an additional 8,434 shares during the quarter. Empowered Funds LLC’s holdings in Applied Materials were worth $8,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Applied Materials in the 4th quarter valued at approximately $28,000. YANKCOM Partnership bought a new position in shares of Applied Materials in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials during the third quarter valued at about $37,000. DT Investment Partners LLC lifted its holdings in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, City Holding Co. bought a new position in Applied Materials in the 4th quarter valued at about $39,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Applied Materials stock opened at $183.66 on Tuesday. The firm has a market capitalization of $149.26 billion, a P/E ratio of 21.33, a P/E/G ratio of 1.86 and a beta of 1.53. The stock has a fifty day moving average price of $175.19 and a two-hundred day moving average price of $185.17. Applied Materials, Inc. has a 52-week low of $158.96 and a 52-week high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. As a group, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America reduced 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 note on Friday, November 15th. Stifel Nicolaus cut their target price on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered 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. Susquehanna raised their target price on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials 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.