Byrne Asset Management LLC Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Byrne Asset Management LLC lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,883 shares of the manufacturing equipment provider’s stock after purchasing an additional 100 shares during the period. Applied Materials comprises approximately 1.0% of Byrne Asset Management LLC’s holdings, making the stock its 24th biggest holding. Byrne Asset Management LLC’s holdings in Applied Materials were worth $1,445,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMAT. Crews Bank & Trust acquired a new stake in shares of Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership acquired a new stake in Applied Materials during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials in the 3rd quarter valued at $37,000. DT Investment Partners LLC raised its position in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after purchasing an additional 166 shares during the period. Finally, City Holding Co. acquired a new position in Applied Materials during the 4th quarter worth approximately $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen decreased their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Barclays dropped their target price on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Susquehanna increased their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Mizuho dropped their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Evercore ISI cut their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One investment 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. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Stock Down 1.5 %

NASDAQ:AMAT opened at $180.00 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. The stock has a 50 day moving average of $175.09 and a 200-day moving average of $185.86. The firm has a market capitalization of $146.29 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.84 and a beta of 1.53. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS. Analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.89%. Applied Materials’s dividend 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.