SFE Investment Counsel has significantly increased its investment in Applied Materials, Inc. (NASDAQ: AMAT), raising its stake by 21.8% during the second quarter of 2023. The firm now holds 20,804 shares of the manufacturing equipment provider after acquiring an additional 3,719 shares over the quarter. As of the end of the most recent quarter, SFE Investment Counsel’s holdings in Applied Materials were valued at approximately $3,809,000.
A number of other institutional investors have also modified their positions in Applied Materials recently. For instance, Maseco LLP initiated a new stake in the company worth about $30,000 in the second quarter. Clal Insurance Enterprises Holdings Ltd made a substantial increase in its holdings by 435.0% during the first quarter, now owning 214 shares valued at $31,000. Similarly, Activest Wealth Management saw its holdings surge by an impressive 5,325.0%, currently holding 217 shares worth $31,000. Disciplina Capital Management LLC also raised its stake by 91.5%, owning 272 shares valued at $39,000 after buying more shares. Collectively, institutional investors now control approximately 80.56% of Applied Materials’ stock.
Analysts Adjust Price Targets and Ratings
Analysts have been active in adjusting their expectations for Applied Materials’ stock. According to TD Cowen, the target price for Applied Materials fell from $220.00 to $200.00, while maintaining a “buy” rating. Conversely, Stifel Nicolaus increased its price target from $180.00 to $215.00, also issuing a “buy” rating. KeyCorp revised its price objective upward from $220.00 to $240.00 with an “overweight” rating noted. Cantor Fitzgerald reaffirmed an “overweight” rating while setting a target of $225.00, and Morgan Stanley confirmed an “overweight” rating with a target price of $256.00 as of October 31, 2023.
Overall, eighteen research analysts have rated Applied Materials with a Buy rating, while twelve have given it a Hold rating, and one has issued a Sell rating. As of now, the consensus rating remains a “Moderate Buy” with an average price target of $210.96, according to MarketBeat data.
Recent Performance and Earnings Insight
On the trading side, Applied Materials shares opened at $230.07 recently, reflecting a 1.5% decline. The company’s stock performance over the past year has seen a low of $123.74 and a high of $242.50. Applied Materials boasts a market capitalization of $183.28 billion and a price-to-earnings ratio of 27.42, with a debt-to-equity ratio of 0.28.
The company reported its quarterly earnings on August 14, 2023, indicating earnings of $2.48 per share (EPS), surpassing analysts’ expectations of $2.36 by $0.12. Revenue for the quarter reached $7.30 billion, exceeding the consensus estimate of $7.21 billion. The firm recorded a net margin of 23.88% and a return on equity of 40.96%, with a year-over-year revenue increase of 7.7%. For the fourth quarter of 2025, Applied Materials has set guidance between $1.910 and $2.310 EPS.
In a notable development for shareholders, the company declared a quarterly dividend to be paid on December 11, 2023. Shareholders of record on November 20, 2023 will receive a dividend of $0.46, representing an annualized dividend of $1.84 and a dividend yield of 0.8%. The payout ratio stands at 21.93%.
Applied Materials, Inc. specializes in providing manufacturing equipment, services, and software to the semiconductor and display industries. The company operates through three main segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment focuses on developing and manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
For further information on institutional holdings and recent trades, interested parties can visit HoldingsChannel.com for the latest updates on Applied Materials and its market activities.
