Petredis Investment Advisors LLC Has $5.63 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Petredis Investment Advisors LLC trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% in the fourth quarter, HoldingsChannel reports. The firm owned 34,615 shares of the manufacturing equipment provider’s stock after selling 891 shares during the period. Petredis Investment Advisors LLC’s holdings in Applied Materials were worth $5,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Forum Financial Management LP grew its stake in shares of Applied Materials by 0.6% in the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after buying an additional 53 shares during the period. Sargent Investment Group LLC boosted its holdings in Applied Materials by 4.0% in the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after acquiring an additional 55 shares in the last quarter. Biltmore Family Office LLC grew its stake in Applied Materials by 5.3% in the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after acquiring an additional 55 shares during the period. waypoint wealth counsel increased its holdings in shares of Applied Materials by 3.1% during the third quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider’s stock valued at $374,000 after acquiring an additional 56 shares in the last quarter. Finally, BSW Wealth Partners raised its position in shares of Applied Materials by 1.3% during the third quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock worth $860,000 after purchasing an additional 56 shares during the period. 80.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company decreased their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target on the stock in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, November 15th. Finally, The Goldman Sachs Group dropped their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.71.

Applied Materials Stock Down 2.1 %

Applied Materials stock opened at $186.75 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The company has a market capitalization 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. The firm has a 50 day moving average price of $173.64 and a 200-day moving average price of $189.92. Applied Materials, Inc. has a twelve month low of $158.96 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last released 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. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period last year, the business posted $2.12 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The firm 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. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, February 20th. 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.