Avaii Wealth Management LLC Invests $329,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Avaii Wealth Management LLC acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,024 shares of the manufacturing equipment provider’s stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMAT. Dark Forest Capital Management LP bought a new stake in Applied Materials during the second quarter valued at $245,000. Maverick Capital Ltd. purchased a new position in shares of Applied Materials during the second quarter worth about $1,052,000. Lighthouse Investment Partners LLC bought a new position in shares of Applied Materials in the second quarter worth approximately $2,006,000. SkyView Investment Advisors LLC raised its stake in Applied Materials by 11.8% in the second quarter. SkyView Investment Advisors LLC now owns 3,613 shares of the manufacturing equipment provider’s stock valued at $853,000 after purchasing an additional 381 shares in the last quarter. Finally, Ascent Group LLC lifted its position in Applied Materials by 140.6% during the second quarter. Ascent Group LLC now owns 5,553 shares of the manufacturing equipment provider’s stock valued at $1,310,000 after purchasing an additional 3,245 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Applied Materials stock opened at $186.75 on Friday. Applied Materials, Inc. has a fifty-two week low of $158.96 and a fifty-two week high of $255.89. The stock has a market cap of $151.77 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.99 and a beta of 1.53. The stock’s 50 day simple moving average is $174.00 and its two-hundred day simple moving average is $189.50. 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 quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business 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 earned $2.12 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is 18.58%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a research note on Friday, January 17th. TD Cowen reduced their price objective on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company dropped their target price on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.71.

Applied Materials Company 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.