Prime Capital Investment Advisors LLC Has $15.38 Million Stock Holdings in Applied Materials, Inc. $AMAT

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Applied Materials, Inc. by 34.8%, now owning 84,006 shares worth approximately $15.38 million after selling 44,743 shares in the second quarter.
• Applied Materials has received mixed ratings from analysts, with upgrades from Morgan Stanley and downgrades from Summit Insights, resulting in a consensus rating of "Moderate Buy" and a target price of $195.12.
• The company recently declared a quarterly dividend of $0.46 per share, which is set to be paid on December 11, 2023, reflecting an annualized yield of 0.8%.

Prime Capital Investment Advisors LLC reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 34.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,006 shares of the manufacturing equipment provider's stock after selling 44,743 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Applied Materials were worth $15,379,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Advisors Inc. OK boosted its stake in shares of Applied Materials by 11.7% in the 2nd quarter. Capital Advisors Inc. OK now owns 403,850 shares of the manufacturing equipment provider's stock valued at $70,915,000 after purchasing an additional 42,413 shares in the last quarter. Relyea Zuckerberg Hanson LLC lifted its stake in Applied Materials by 6.1% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 6,949 shares of the manufacturing equipment provider's stock valued at $1,272,000 after purchasing an additional 402 shares during the last quarter. Belpointe Asset Management LLC boosted its position in Applied Materials by 19.8% in the second quarter. Belpointe Asset Management LLC now owns 5,035 shares of the manufacturing equipment provider's stock valued at $922,000 after buying an additional 831 shares in the last quarter. Valley National Advisers Inc. grew its stake in shares of Applied Materials by 2.1% during the second quarter. Valley National Advisers Inc. now owns 12,327 shares of the manufacturing equipment provider's stock worth $2,256,000 after buying an additional 248 shares during the last quarter. Finally, Duncan Williams Asset Management LLC acquired a new position in shares of Applied Materials during the second quarter worth $214,000. Institutional investors own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

AMAT has been the subject of several research reports. Summit Insights downgraded Applied Materials from a "buy" rating to a "hold" rating in a research report on Friday, August 15th. Deutsche Bank Aktiengesellschaft cut their target price on Applied Materials from $200.00 to $170.00 and set a "hold" rating on the stock in a report on Friday, August 15th. Morgan Stanley upgraded Applied Materials from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $172.00 to $209.00 in a research report on Monday, September 22nd. Evercore ISI restated an "outperform" rating and issued a $209.00 price target on shares of Applied Materials in a research report on Friday, August 15th. Finally, Mizuho reiterated a "neutral" rating and set a $175.00 price objective (down from $200.00) on shares of Applied Materials in a research report on Friday, September 12th. Seventeen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $195.12.

Applied Materials Trading Down 2.7%

Shares of Applied Materials stock opened at $217.53 on Monday. The firm has a market cap of $173.29 billion, a PE ratio of 25.93, a P/E/G ratio of 2.85 and a beta of 1.82. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $226.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.76. The stock has a fifty day moving average price of $179.50 and a 200-day moving average price of $169.52.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.12. Applied Materials had a net margin of 23.88% and a return on equity of 40.96%. The company had revenue of $7.30 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the prior year, the business earned $2.12 earnings per share. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. Applied Materials has set its Q4 2025 guidance at 1.910-2.310 EPS. Equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, November 20th. This represents a $1.84 annualized dividend and a dividend yield of 0.8%. Applied Materials's dividend payout ratio (DPR) is presently 21.93%.

Applied Materials 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.