Mission Wealth Management LP Boosts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Mission Wealth Management LP boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,864 shares of the manufacturing equipment provider’s stock after acquiring an additional 594 shares during the period. Mission Wealth Management LP’s holdings in Applied Materials were worth $4,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Applied Materials by 5.8% during the 2nd quarter. BlackRock Inc. now owns 72,115,670 shares of the manufacturing equipment provider’s stock valued at $4,359,392,000 after purchasing an additional 3,925,501 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Applied Materials by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,970,360 shares of the manufacturing equipment provider’s stock valued at $1,086,307,000 after purchasing an additional 108,372 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Applied Materials by 0.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 15,025,978 shares of the manufacturing equipment provider’s stock valued at $908,320,000 after purchasing an additional 47,990 shares in the last quarter. LSV Asset Management increased its stake in shares of Applied Materials by 15.1% in the second quarter. LSV Asset Management now owns 6,600,619 shares of the manufacturing equipment provider’s stock worth $399,007,000 after acquiring an additional 867,117 shares during the period. Finally, Matrix Capital Management Company LP increased its stake in shares of Applied Materials by 15.6% in the first quarter. Matrix Capital Management Company LP now owns 4,913,000 shares of the manufacturing equipment provider’s stock worth $225,114,000 after acquiring an additional 663,000 shares during the period. 79.23% of the stock is owned by institutional investors.

Shares of AMAT opened at $63.00 on Friday. Applied Materials, Inc. has a 1-year low of $36.64 and a 1-year high of $69.90. The stock has a market cap of $57.54 billion, a PE ratio of 18.31, a P/E/G ratio of 1.26 and a beta of 1.29. The firm has a 50-day simple moving average of $59.62 and a two-hundred day simple moving average of $57.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.86 and a quick ratio of 1.94.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 13th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Applied Materials had a net margin of 19.58% and a return on equity of 38.81%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the business earned $0.74 earnings per share. As a group, sell-side analysts expect that Applied Materials, Inc. will post 4.07 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 18th. Applied Materials’s dividend payout ratio (DPR) is currently 28.95%.

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Applied Materials from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Barclays increased their price objective on shares of Applied Materials from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Citigroup increased their price objective on shares of Applied Materials from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Craig Hallum increased their price objective on shares of Applied Materials from $79.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, 140166 increased their price target on shares of Applied Materials from $74.00 to $85.00 in a report on Friday, August 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $73.29.

Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

Featured Story: What is a growth and income fund?

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.