First Horizon Advisors Inc. Has $650,000 Stake in Applied Materials, Inc. (NASDAQ:AMAT)

First Horizon Advisors Inc. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 21.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,217 shares of the manufacturing equipment provider’s stock after selling 879 shares during the quarter. First Horizon Advisors Inc.’s holdings in Applied Materials were worth $650,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Applied Materials during the second quarter valued at approximately $26,000. Fairfield Financial Advisors LTD bought a new position in Applied Materials during the 2nd quarter valued at about $28,000. PSI Advisors LLC boosted its position in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. Clean Yield Group acquired a new stake in shares of Applied Materials during the third quarter worth approximately $33,000. Finally, First PREMIER Bank boosted its holdings in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Friday, November 15th. TD Cowen reduced their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Susquehanna lowered their price target on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Finally, Needham & Company LLC lowered their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Stock Up 3.1 %

AMAT stock opened at $175.34 on Friday. The business has a 50-day moving average of $190.11 and a 200-day moving average of $205.97. Applied Materials, Inc. has a fifty-two week low of $144.57 and a fifty-two 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. The stock has a market capitalization of $144.55 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.59 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share 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 business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 earnings per share. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

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

About Applied Materials

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.