Westfield Capital Management Co. LP Sells 3,110 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Westfield Capital Management Co. LP lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 24.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,748 shares of the manufacturing equipment provider’s stock after selling 3,110 shares during the period. Westfield Capital Management Co. LP’s holdings in Applied Materials were worth $1,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $27,000. Global Wealth Management Investment Advisory Inc. increased its holdings in Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. L2 Asset Management LLC raised its position in Applied Materials by 795.0% during the 3rd quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock valued at $41,000 after purchasing an additional 26,298 shares in the last quarter. First United Bank & Trust purchased a new stake in shares of Applied Materials in the 4th quarter worth $45,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Applied Materials in the 4th quarter worth $49,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock traded up $2.94 during mid-day trading on Friday, reaching $220.89. The stock had a trading volume of 3,795,707 shares, compared to its average volume of 4,466,837. The business’s fifty day moving average is $206.44 and its 200-day moving average is $181.94. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The firm has a market cap of $183.54 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.89 and a beta of 1.58. Applied Materials, Inc. has a 1-year low of $126.13 and a 1-year high of $225.07.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 earnings per share. On average, research analysts forecast that Applied Materials, Inc. will post 8.32 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a $0.40 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.72%. Applied Materials’s dividend payout ratio is presently 18.39%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMAT shares. UBS Group upped their target price on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Applied Materials in a report on Friday, May 17th. 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. Raymond James upped their target price on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Finally, Mizuho boosted their price target on Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.64.

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.