Harmony Asset Management LLC Increases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Harmony Asset Management LLC lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,461 shares of the manufacturing equipment provider’s stock after purchasing an additional 985 shares during the period. Applied Materials accounts for approximately 2.1% of Harmony Asset Management LLC’s portfolio, making the stock its 9th largest position. Harmony Asset Management LLC’s holdings in Applied Materials were worth $5,750,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

AMAT has been the subject of several analyst reports. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Susquehanna lowered their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Morgan Stanley cut their price target on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. B. Riley dropped their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.48.

Applied Materials Trading Up 4.9 %

Applied Materials stock opened at $183.26 on Tuesday. The stock has a market cap of $151.08 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.52. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The stock has a 50-day moving average of $187.90 and a two-hundred day moving average of $204.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, research analysts anticipate that Applied Materials, Inc. will post 9.5 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 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.