Alkeon Capital Management LLC Has $379.28 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Alkeon Capital Management LLC grew its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 87.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,877,133 shares of the manufacturing equipment provider’s stock after purchasing an additional 877,133 shares during the quarter. Applied Materials comprises about 0.7% of Alkeon Capital Management LLC’s portfolio, making the stock its 21st biggest position. Alkeon Capital Management LLC’s holdings in Applied Materials were worth $379,275,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in shares of Applied Materials during the 1st quarter valued at $79,000. Cetera Investment Advisers boosted its position in shares of Applied Materials by 205.9% during the 1st quarter. Cetera Investment Advisers now owns 290,561 shares of the manufacturing equipment provider’s stock worth $59,922,000 after purchasing an additional 195,569 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Applied Materials by 166.7% in the 1st quarter. Cetera Advisors LLC now owns 64,913 shares of the manufacturing equipment provider’s stock valued at $13,387,000 after buying an additional 40,573 shares during the period. Cetera Advisor Networks LLC increased its position in Applied Materials by 2.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 98,050 shares of the manufacturing equipment provider’s stock valued at $20,221,000 after buying an additional 2,781 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Applied Materials during the 1st quarter worth approximately $158,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMAT shares. Stifel Nicolaus decreased their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Morgan Stanley lowered their price objective on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Citigroup reduced their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Bank of America lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Needham & Company LLC cut their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.05.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $171.32 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 fifty day simple moving average of $188.46 and a two-hundred day simple moving average of $204.76. Applied Materials, Inc. has a 1-year low of $144.57 and a 1-year high of $255.89. The firm has a market cap of $141.24 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.64 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts anticipate that Applied Materials, Inc. will post 9.5 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. Applied Materials’s payout ratio is 18.58%.

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.