InTrack Investment Management Acquires Stake in Applied Materials, Inc.

InTrack Investment Management Inc has recently acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT). According to their latest 13F filing with the SEC, the institutional investor purchased 3,268 shares of the manufacturing equipment provider's stock during the fourth quarter. This investment is valued at approximately $567,000.

Other institutional investors have also shown interest in Applied Materials. For instance, Clean Yield Group entered the market during the third quarter with an investment worth about $33,000. Additionally, First PREMIER Bank increased its holdings by 326.3% in the same period, now owning 162 shares with a total value of $33,000 after adding 124 shares last quarter.

MidAtlantic Capital Management also acquired a new stake in Applied Materials valued at around $37,000, while DT Investment Partners LLC saw a significant boost in its holdings, increasing them by 592.9%. DT now owns 194 shares valued at $39,000 after acquiring 166 additional shares. Furthermore, Dunhill Financial LLC raised its stake by 61.4%, bringing its total to 213 shares valued at $43,000 after acquiring 81 shares during the period. Currently, institutional investors hold approximately 80.56% of the company’s stock.

Current Performance of Applied Materials Stock

As of Friday, shares of Applied Materials opened at $192.05. Over the past year, the stock has seen a low of $156.78 and a high of $255.89. The company's market capitalization stands at $156.27 billion, with a price-to-earnings ratio of 22.31 and a PEG ratio of 1.75. The stock's 50-day and 200-day moving averages are $173.10 and $191.61, respectively. The company maintains a debt-to-equity ratio of 0.29, with a quick ratio of 1.87 and a current ratio of 2.51.

Recent Earnings and Future Insights

On November 14th, Applied Materials released its quarterly earnings, reporting earnings per share (EPS) of $2.32, surpassing analyst expectations of $2.19 by $0.13. The company achieved a return on equity of 39.26% and net margins of 26.41%. During this quarter, total revenue reached $7.05 billion, exceeding estimates of $6.96 billion, and reflecting a 4.8% increase year-over-year. Forecasts suggest that Applied Materials is expected to report approximately 9.37 EPS for the current fiscal year.

Dividends and Shareholder Returns

Applied Materials has also announced a quarterly dividend that is set to be paid on March 13th. Shareholders recorded as of February 20th will receive a dividend of $0.40 per share, which translates to an annualized dividend of $1.60, yielding 0.83%. The ex-dividend date is also February 20th, with a current payout ratio of 18.58%.

Analyst Ratings and Market Predictions

Recent evaluations by equity analysts on Applied Materials stock reflect diverse opinions. Cantor Fitzgerald reiterated an "overweight" rating with a price target of $250.00. The Goldman Sachs Group, meanwhile, lowered its target price from $230.00 to $202.00 while retaining a "buy" rating. Bank of America adjusted their price target from $220.00 to $210.00, also maintaining a "buy" stance. Barclays cut their price target from $225.00 to $200.00, suggesting an "equal weight" rating. Additionally, Evercore ISI lowered their target price from $260.00 to $250.00, indicating an "outperform" rating. Out of the analysts, one has rated the stock as a sell, seven called it a hold, and sixteen have given it a buy rating. According to MarketBeat data, Applied Materials holds an average rating of "Moderate Buy" with an average target price of $217.41.

About Applied Materials

Applied Materials, Inc. specializes in manufacturing equipment, services, and software for the semiconductor, display, and related sectors. It operates through three main segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets, focusing primarily on developing and providing the manufacturing equipment necessary for semiconductor chip fabrication.

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