Savoie Capital LLC Acquires 10,400 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Savoie Capital LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 87,695 shares of the manufacturing equipment provider’s stock after buying an additional 10,400 shares during the period. Applied Materials makes up approximately 2.2% of Savoie Capital LLC’s holdings, making the stock its 11th largest holding. Savoie Capital LLC’s holdings in Applied Materials were worth $17,719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brophy Wealth Management LLC acquired a new position in shares of Applied Materials during the 3rd quarter worth approximately $374,000. M&T Bank Corp grew its position in Applied Materials by 106.5% during the third quarter. M&T Bank Corp now owns 690,160 shares of the manufacturing equipment provider’s stock worth $139,447,000 after buying an additional 355,926 shares in the last quarter. Executive Wealth Management LLC bought a new position in Applied Materials during the 3rd quarter worth $1,223,000. Continuum Advisory LLC raised its holdings in Applied Materials by 25.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,035 shares of the manufacturing equipment provider’s stock valued at $193,000 after acquiring an additional 208 shares in the last quarter. Finally, Tanaka Capital Management Inc. lifted its position in shares of Applied Materials by 11.1% during the 3rd quarter. Tanaka Capital Management Inc. now owns 7,981 shares of the manufacturing equipment provider’s stock valued at $1,613,000 after acquiring an additional 800 shares during the period. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI decreased their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company reduced their target price on Applied Materials from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. boosted their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Finally, Sanford C. Bernstein cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.29.

Applied Materials Price Performance

Applied Materials stock opened at $171.86 on Tuesday. The stock’s 50 day moving average price is $185.31 and its two-hundred day moving average price is $202.74. The stock has a market capitalization of $141.68 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.63 and a beta of 1.52. 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 52-week low of $148.05 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate 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 business earned $2.12 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts predict that Applied Materials, Inc. will post 9.45 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.93%. Applied Materials’s dividend payout ratio (DPR) is presently 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.