Harbor Capital Advisors Inc. Has $3.01 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Harbor Capital Advisors Inc. cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,481 shares of the manufacturing equipment provider’s stock after selling 893 shares during the period. Harbor Capital Advisors Inc.’s holdings in Applied Materials were worth $3,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. State Street Corp lifted its position in Applied Materials by 1.8% during the 3rd quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock valued at $7,841,178,000 after purchasing an additional 672,548 shares during the period. Geode Capital Management LLC grew its position in shares of Applied Materials by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock worth $3,994,968,000 after buying an additional 371,866 shares during the period. FMR LLC lifted its holdings in Applied Materials by 5.5% in the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock valued at $3,316,269,000 after buying an additional 858,122 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Applied Materials by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock valued at $1,790,554,000 after acquiring an additional 318,445 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock valued at $1,327,707,000 after acquiring an additional 1,509,439 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMAT has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Mizuho cut their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America cut their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. The Goldman Sachs Group decreased their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday. Finally, Sanford C. Bernstein cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.71.

Applied Materials Stock Down 3.0 %

Applied Materials stock opened at $171.65 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 1-year low of $148.48 and a 1-year high of $255.89. The company has a fifty day simple moving average of $173.91 and a 200 day simple moving average of $192.89. The company has a market cap of $139.67 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter last year, the company earned $2.12 EPS. Applied Materials’s revenue for the quarter was up 4.8% compared to the same quarter last year. Research analysts anticipate that Applied Materials, Inc. will post 9.48 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is presently 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.