Applied Materials, Inc. (NASDAQ:AMAT) Position Lowered by Compass Wealth Management LLC

Compass Wealth Management LLC lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 44,932 shares of the manufacturing equipment provider’s stock after selling 1,243 shares during the period. Applied Materials makes up about 1.8% of Compass Wealth Management LLC’s investment portfolio, making the stock its 10th biggest position. Compass Wealth Management LLC’s holdings in Applied Materials were worth $7,307,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMAT. Dark Forest Capital Management LP purchased a new stake in Applied Materials during the 2nd quarter worth $245,000. MBB Public Markets I LLC grew its stake in shares of Applied Materials by 238.1% in the second quarter. MBB Public Markets I LLC now owns 76,121 shares of the manufacturing equipment provider’s stock valued at $17,964,000 after buying an additional 53,606 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Applied Materials during the 2nd quarter valued at about $1,052,000. The Manufacturers Life Insurance Company lifted its position in Applied Materials by 23.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,044,543 shares of the manufacturing equipment provider’s stock worth $246,502,000 after acquiring an additional 199,087 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in Applied Materials in the 2nd quarter worth approximately $2,006,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of recent research reports. Morgan Stanley reissued an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Needham & Company LLC lowered their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Evercore ISI cut their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. TD Cowen dropped their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Wells Fargo & Company cut their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

Applied Materials Price Performance

NASDAQ:AMAT opened at $186.75 on Friday. Applied Materials, Inc. has a 52-week low of $158.96 and a 52-week high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The firm has a market cap of $151.77 billion, a P/E ratio of 21.69, a PEG ratio of 1.99 and a beta of 1.53. The business’s 50-day moving average price is $174.00 and its 200 day moving average price is $189.50.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the previous year, the company posted $2.12 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.38 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 given a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.86%. Applied Materials’s dividend payout ratio (DPR) 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.