TD Private Client Wealth LLC Lowers Position in Applied Materials, Inc. (NASDAQ:AMAT)

TD Private Client Wealth LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 33.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,017 shares of the manufacturing equipment provider's stock after selling 7,453 shares during the quarter. TD Private Client Wealth LLC's holdings in Applied Materials were worth $3,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. Summit Securities Group LLC bought a new position in shares of Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials in the second quarter valued at approximately $28,000. Clean Yield Group bought a new stake in shares of Applied Materials during the 3rd quarter valued at $33,000. First PREMIER Bank grew its holdings in shares of Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider's stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider's stock worth $37,000 after buying an additional 56 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMAT shares. Mizuho dropped their target price on shares of Applied Materials from $245.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, September 20th. StockNews.com cut shares of Applied Materials from a "buy" rating to a "hold" rating in a research note on Saturday, September 14th. Dbs Bank cut Applied Materials from a "strong-buy" rating to a "hold" rating in a report on Monday, September 16th. Morgan Stanley restated an "underweight" rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Finally, Susquehanna cut their price objective on shares of Applied Materials from $190.00 to $170.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $220.29.

Applied Materials Price Performance

AMAT traded down $2.05 on Thursday, hitting $169.08. 6,093,654 shares of the company's stock traded hands, compared to its average volume of 6,203,439. The company's 50 day simple moving average is $184.13 and its 200-day simple moving average is $202.15. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a one year low of $148.05 and a one year high of $255.89. The firm has a market cap of $139.39 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.63 and a beta of 1.52.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analysts' expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business's revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.12 earnings per share. As a group, research analysts anticipate that Applied Materials, Inc. will post 9.45 EPS for the current year.

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.