1,858 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Acquired by Alhambra Investment Management LLC

Alhambra Investment Management LLC purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,858 shares of the manufacturing equipment provider’s stock, valued at approximately $302,000.

Several other hedge funds have also added to or reduced their stakes in the business. Clean Yield Group bought a new position in shares of Applied Materials in the third quarter valued at about $33,000. First PREMIER Bank raised its holdings in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials during the third quarter worth approximately $37,000. DT Investment Partners LLC boosted its holdings in shares of Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares during the period. Finally, Dunhill Financial LLC grew its position in shares of Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America decreased their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Wells Fargo & Company decreased their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Susquehanna dropped their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Needham & Company LLC decreased their target price 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. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $164.00 price target (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.41.

Applied Materials Stock Up 3.0 %

Shares of AMAT opened at $192.05 on Friday. 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, Inc. has a 52 week low of $156.78 and a 52 week high of $255.89. The stock has a market capitalization of $156.27 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.75 and a beta of 1.53. The stock has a fifty day moving average of $173.10 and a 200-day moving average of $191.61.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results 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 return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same period last year, the firm posted $2.12 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 9.37 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is currently 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.