Davis Investment Partners LLC Sells 1,143 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Davis Investment Partners LLC trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,716 shares of the manufacturing equipment provider’s stock after selling 1,143 shares during the period. Davis Investment Partners LLC’s holdings in Applied Materials were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials in the second quarter valued at $28,000. Clean Yield Group bought a new position in Applied Materials in the 3rd quarter worth about $33,000. First PREMIER Bank increased its position in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials in the third quarter worth about $37,000. Finally, DT Investment Partners LLC boosted its position in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after acquiring an additional 166 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Down 0.5 %

Shares of AMAT stock traded down $0.79 during mid-day trading on Monday, reaching $170.86. 5,460,118 shares of the company’s stock traded hands, compared to its average volume of 6,005,852. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $173.91 and its 200-day moving average price is $192.62. The company has a market cap of $139.03 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.61 and a beta of 1.53. Applied Materials, Inc. has a 12 month low of $149.84 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly 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 company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the prior year, the business posted $2.12 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts expect that Applied Materials, Inc. will post 9.48 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. Applied Materials’s dividend payout ratio is currently 18.58%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMAT. Bank of America lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. Susquehanna lowered their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company dropped their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Needham & Company LLC decreased their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.24.

Applied Materials Profile

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.