Transcend Capital Advisors LLC Sells 426 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Transcend Capital Advisors LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,734 shares of the manufacturing equipment provider’s stock after selling 426 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Applied Materials were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Applied Materials by 29.8% during the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock valued at $1,327,707,000 after purchasing an additional 1,509,439 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Applied Materials by 8.6% during the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after buying an additional 164,085 shares in the last quarter. WoodTrust Financial Corp lifted its stake in shares of Applied Materials by 47.0% during the 3rd quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock valued at $13,722,000 after buying an additional 21,699 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Applied Materials by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock worth $230,158,000 after buying an additional 15,183 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Applied Materials by 62.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock valued at $343,138,000 after buying an additional 653,739 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $171.98 on Friday. The business’s 50-day moving average price is $175.64 and its 200-day moving average price is $183.86. The firm has a market capitalization of $139.77 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. Applied Materials, Inc. has a 12 month low of $158.96 and a 12 month high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.93%. Applied Materials’s payout ratio is 20.92%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Bank of America cut their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Citigroup upped their price target on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Stifel Nicolaus cut their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, TD Cowen decreased their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

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.