1,777 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Acquired by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,777 shares of the manufacturing equipment provider’s stock, valued at approximately $419,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First National Bank of Mount Dora Trust Investment Services acquired a new position in Applied Materials during the first quarter worth about $1,764,000. GAMMA Investing LLC boosted its holdings in shares of Applied Materials by 89.3% during the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock worth $2,121,000 after purchasing an additional 4,239 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Applied Materials by 5.7% in the second quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after purchasing an additional 126 shares during the last quarter. International Assets Investment Management LLC lifted its position in Applied Materials by 5.4% during the first quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock worth $699,000 after buying an additional 172 shares in the last quarter. Finally, Calton & Associates Inc. acquired a new position in Applied Materials during the first quarter worth $243,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT opened at $202.05 on Tuesday. The stock has a 50-day simple moving average of $195.19 and a 200-day simple moving average of $210.02. The stock has a market capitalization of $167.29 billion, a PE ratio of 23.22, a PEG ratio of 2.30 and a beta of 1.55. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 EPS. On average, analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. Applied Materials’s dividend payout ratio is currently 18.39%.

Analyst Ratings Changes

A number of analysts have issued reports on AMAT shares. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. JPMorgan Chase & Co. boosted their target price on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Stifel Nicolaus decreased their price objective on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Citigroup cut their target price 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 analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.05.

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.