Highland Capital Management LLC Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Highland Capital Management LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 37.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,472 shares of the manufacturing equipment provider's stock after selling 15,074 shares during the quarter. Highland Capital Management LLC's holdings in Applied Materials were worth $4,143,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in AMAT. Clean Yield Group acquired a new position in Applied Materials during the third quarter worth $33,000. First PREMIER Bank grew its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider's stock valued at $33,000 after purchasing an additional 124 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials during the 3rd quarter valued at $37,000. DT Investment Partners LLC increased its position in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider's stock worth $39,000 after purchasing an additional 166 shares in the last quarter. Finally, City Holding Co. purchased a new stake in shares of Applied Materials in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Trading Up 3.7 %

AMAT stock traded up $6.44 during trading on Thursday, hitting $181.72. 5,955,960 shares of the company traded hands, compared to its average volume of 6,817,229. The firm has a market capitalization of $147.86 billion, a PE ratio of 21.11, a P/E/G ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The company has a 50-day moving average of $174.24 and a 200-day moving average of $187.55.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. The business had revenue of $7.05 billion during the quarter, compared to analysts' expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.12 EPS. Analysts predict that Applied Materials, Inc. will post 9.38 earnings per share 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. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, February 20th. Applied Materials's payout ratio is 18.58%.

Analyst Ratings Changes

AMAT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Applied Materials from $220.00 to $200.00 and set a "hold" rating on the stock in a research note on Friday, November 15th. TD Cowen reduced their price objective on Applied Materials from $250.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Bank of America lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. Sanford C. Bernstein reduced their target price on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, November 29th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $218.71.

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.