Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 5.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 92,961 shares of the manufacturing equipment provider’s stock after selling 5,523 shares during the period. Applied Materials accounts for 1.7% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 17th largest holding. Sawgrass Asset Management LLC’s holdings in Applied Materials were worth $15,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Crews Bank & Trust purchased a new stake in Applied Materials during the fourth quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials during the third quarter valued at about $37,000. DT Investment Partners LLC grew its position in Applied Materials by 592.9% during 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. YANKCOM Partnership purchased a new stake in Applied Materials during the fourth quarter valued at about $32,000. Finally, Dunhill Financial LLC grew its position in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Susquehanna boosted their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC decreased their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, November 15th. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price for the company in a research report on Friday, January 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. Finally, Evercore ISI decreased their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.00.

Applied Materials Stock Down 1.3 %

Shares of Applied Materials stock opened at $180.89 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $175.20 and its 200-day simple moving average is $184.87. The stock has a market capitalization of $147.01 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.86 and a beta of 1.53. Applied Materials, Inc. has a twelve month low of $158.96 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued 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 analyst estimates of $6.96 billion. During the same period in the prior year, the company posted $2.12 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is 18.58%.

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.