Parsons Capital Management Inc. RI Acquires 2,095 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Parsons Capital Management Inc. RI lifted its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 122.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,805 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,095 shares during the period. Parsons Capital Management Inc. RI’s holdings in Applied Materials were worth $617,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AMAT. Norges Bank purchased a new stake in shares of Applied Materials in the fourth quarter valued at approximately $930,505,000. Cowa LLC purchased a new stake in shares of Applied Materials in the first quarter valued at approximately $76,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Applied Materials by 79,147.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,726,422 shares of the manufacturing equipment provider’s stock valued at $557,639,000 after purchasing an additional 5,719,196 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Applied Materials by 25.1% in the second quarter. Nuveen Asset Management LLC now owns 9,609,330 shares of the manufacturing equipment provider’s stock valued at $1,388,933,000 after purchasing an additional 1,925,722 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Applied Materials by 63.9% in the second quarter. Barclays PLC now owns 3,892,930 shares of the manufacturing equipment provider’s stock valued at $562,685,000 after purchasing an additional 1,517,116 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMAT shares. Mizuho upped their target price on Applied Materials from $185.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Morgan Stanley upped their target price on Applied Materials from $142.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. B. Riley upped their target price on Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Raymond James upped their target price on Applied Materials from $180.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Susquehanna increased their price objective on Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.83.

View Our Latest Stock Report on AMAT

Applied Materials Price Performance

NASDAQ:AMAT opened at $206.11 on Wednesday. Applied Materials, Inc. has a 52 week low of $109.00 and a 52 week high of $214.91. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $171.26 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 3.12 and a beta of 1.59. The stock’s 50-day moving average price is $192.85 and its 200-day moving average price is $163.33.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The firm had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.48 billion. During the same period last year, the firm earned $2.03 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts expect that Applied Materials, Inc. will post 8.03 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. Applied Materials’s dividend payout ratio (DPR) is currently 15.06%.

Applied Materials Company Profile

(Free Report)

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.

See Also

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

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