Lazard Freres Gestion S.A.S. Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Lazard Freres Gestion S.A.S. grew its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 24.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 412,083 shares of the manufacturing equipment provider’s stock after buying an additional 80,545 shares during the period. Applied Materials comprises 1.8% of Lazard Freres Gestion S.A.S.’s portfolio, making the stock its 20th biggest holding. Lazard Freres Gestion S.A.S.’s holdings in Applied Materials were worth $83,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials in the 2nd quarter worth approximately $28,000. Clean Yield Group bought a new position in Applied Materials in the 3rd quarter valued at $33,000. First PREMIER Bank grew its position in shares of Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Finally, PSI Advisors LLC grew its position in Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Trading Down 0.2 %

AMAT traded down $0.33 during midday trading on Tuesday, reaching $174.55. 8,926,467 shares of the company’s stock traded hands, compared to its average volume of 6,174,374. Applied Materials, Inc. has a 52 week low of $144.57 and a 52 week high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The firm has a fifty day moving average of $189.57 and a two-hundred day moving average of $205.49. The stock has a market capitalization of $143.90 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.64 and a beta of 1.56.

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, topping analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. On average, equities analysts anticipate that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMAT shares. TD Cowen dropped their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Bank of America cut their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Needham & Company LLC dropped their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Wells Fargo & Company cut their target price on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Finally, Citigroup dropped their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.05.

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.