Flagship Harbor Advisors LLC Has $1.21 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Flagship Harbor Advisors LLC cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,408 shares of the manufacturing equipment provider’s stock after selling 834 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Applied Materials were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Grimes & Company Inc. increased its stake in shares of Applied Materials by 0.7% in the fourth quarter. Grimes & Company Inc. now owns 74,931 shares of the manufacturing equipment provider’s stock worth $12,186,000 after purchasing an additional 557 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in Applied Materials by 9.5% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 22,043 shares of the manufacturing equipment provider’s stock valued at $3,585,000 after buying an additional 1,920 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in Applied Materials by 0.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock worth $2,375,000 after buying an additional 60 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Applied Materials by 82.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 10,002 shares of the manufacturing equipment provider’s stock worth $1,627,000 after buying an additional 4,530 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Applied Materials by 5.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,048 shares of the manufacturing equipment provider’s stock worth $1,309,000 after acquiring an additional 407 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMAT. Sanford C. Bernstein cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Barclays reduced their target price on shares of Applied Materials from $225.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Evercore ISI cut their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Mizuho decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, TD Cowen cut their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Price Performance

Applied Materials stock opened at $186.75 on Monday. The business’s fifty day moving average is $174.00 and its two-hundred day moving average is $189.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The firm has a market cap of $151.95 billion, a P/E ratio of 21.69, a P/E/G ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week 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 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.96 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.86%. Applied Materials’s dividend payout ratio is currently 18.58%.

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.