Norden Group LLC Cuts Position in Applied Materials, Inc. (NASDAQ:AMAT)

Norden Group LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,178 shares of the manufacturing equipment provider’s stock after selling 1,607 shares during the quarter. Norden Group LLC’s holdings in Applied Materials were worth $677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMAT. Kaizen Financial Strategies lifted its position in Applied Materials by 2.0% during the fourth quarter. Kaizen Financial Strategies now owns 3,733 shares of the manufacturing equipment provider’s stock valued at $605,000 after purchasing an additional 72 shares during the last quarter. Redwood Financial Network Corp lifted its position in Applied Materials by 4.6% during the third quarter. Redwood Financial Network Corp now owns 1,721 shares of the manufacturing equipment provider’s stock valued at $238,000 after purchasing an additional 75 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in Applied Materials by 2.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,894 shares of the manufacturing equipment provider’s stock valued at $469,000 after purchasing an additional 75 shares during the last quarter. Chase Investment Counsel Corp lifted its position in Applied Materials by 1.7% during the fourth quarter. Chase Investment Counsel Corp now owns 4,427 shares of the manufacturing equipment provider’s stock valued at $717,000 after purchasing an additional 75 shares during the last quarter. Finally, Field & Main Bank lifted its position in Applied Materials by 2.2% during the fourth quarter. Field & Main Bank now owns 3,540 shares of the manufacturing equipment provider’s stock valued at $574,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 3.2 %

AMAT stock opened at $198.65 on Wednesday. The firm has a 50 day moving average of $203.72 and a 200 day moving average of $172.81. The stock has a market capitalization of $165.06 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 3.04 and a beta of 1.59. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. Applied Materials, Inc. has a 52 week low of $111.20 and a 52 week high of $214.91.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. The company had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.48 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. Applied Materials’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business earned $2.03 EPS. Sell-side analysts forecast that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.81%. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s payout ratio is presently 15.06%.

Analyst Ratings Changes

AMAT has been the subject of several research reports. TD Cowen increased their price objective on shares of Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Mizuho raised their target price on shares of Applied Materials from $185.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Applied Materials in a report on Thursday, April 11th. They issued a “hold” rating and a $225.00 target price for the company. Cantor Fitzgerald upgraded shares of Applied Materials from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $220.00 to $260.00 in a report on Monday, April 8th. Finally, UBS Group lifted their price objective on shares of Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.50.

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.