Townsquare Capital LLC Buys 16,137 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Townsquare Capital LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 35.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,905 shares of the manufacturing equipment provider’s stock after purchasing an additional 16,137 shares during the quarter. Townsquare Capital LLC’s holdings in Applied Materials were worth $12,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WASHINGTON TRUST Co increased its position in shares of Applied Materials by 3.3% during the second quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock worth $367,000 after acquiring an additional 49 shares in the last quarter. Optimum Investment Advisors increased its holdings in Applied Materials by 1.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock worth $948,000 after purchasing an additional 50 shares in the last quarter. SlateStone Wealth LLC raised its stake in shares of Applied Materials by 4.7% in the second quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after purchasing an additional 50 shares during the last quarter. Forum Financial Management LP lifted its holdings in shares of Applied Materials by 0.6% in the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after purchasing an additional 53 shares in the last quarter. Finally, Northwest Investment Counselors LLC boosted its position in shares of Applied Materials by 0.9% during the second quarter. Northwest Investment Counselors LLC now owns 6,090 shares of the manufacturing equipment provider’s stock valued at $1,437,000 after buying an additional 54 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Down 1.1 %

AMAT opened at $171.32 on Thursday. Applied Materials, Inc. has a 12 month low of $144.57 and a 12 month high of $255.89. The company has a market cap of $141.24 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.64 and a beta of 1.56. 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 company has a 50 day moving average of $188.97 and a 200 day moving average of $204.99.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results 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. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period last year, the company earned $2.12 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, sell-side analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 18.58%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMAT shares. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Susquehanna reduced their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Bank of America decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Morgan Stanley cut their target price on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.05.

About Applied Materials

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.