Perigon Wealth Management LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Perigon Wealth Management LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,619 shares of the manufacturing equipment provider’s stock after acquiring an additional 1,468 shares during the period. Perigon Wealth Management LLC’s holdings in Applied Materials were worth $4,004,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMAT. Clean Yield Group acquired a new position in Applied Materials during the 3rd quarter worth approximately $33,000. First PREMIER Bank grew its holdings 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 acquiring an additional 124 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the third quarter worth $37,000. DT Investment Partners LLC lifted its holdings in 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. Finally, City Holding Co. purchased a new stake in shares of Applied Materials during the 4th quarter worth $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Mizuho cut their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price target (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Barclays lowered their price target on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Susquehanna lifted their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $172.85 on Wednesday. The company has a market cap of $140.64 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.99 and a beta of 1.53. The business has a fifty day simple moving average of $174.07 and a 200-day simple moving average of $188.14. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the prior year, the company posted $2.12 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. Applied Materials’s dividend payout ratio (DPR) 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.