Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,710 shares of the manufacturing equipment provider’s stock after buying an additional 130 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in Applied Materials were worth $346,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the first quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new position in shares of Applied Materials in the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in Applied Materials during the 2nd quarter worth $28,000. Clean Yield Group purchased a new stake in Applied Materials in the third quarter valued at $33,000. Finally, First PREMIER Bank boosted its stake in Applied Materials by 326.3% in the third 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 in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMAT shares. Morgan Stanley cut their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Wells Fargo & Company cut their price target on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Susquehanna decreased their price objective on Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Mizuho cut their target price on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, UBS Group reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Stock Up 1.5 %

Shares of Applied Materials stock traded up $2.77 on Friday, hitting $186.52. 4,794,657 shares of the company’s stock traded hands, compared to its average volume of 6,091,412. The firm’s 50-day moving average is $194.14 and its 200 day moving average is $208.58. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The stock has a market cap of $154.43 billion, a P/E ratio of 21.44, a PEG ratio of 2.66 and a beta of 1.54. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. Applied Materials’s payout ratio is 18.39%.

Applied Materials 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.