Miracle Mile Advisors LLC Acquires 652 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Miracle Mile Advisors LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,522 shares of the manufacturing equipment provider’s stock after acquiring an additional 652 shares during the period. Miracle Mile Advisors LLC’s holdings in Applied Materials were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials during the 2nd quarter valued at about $28,000. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter worth approximately $33,000. First PREMIER Bank lifted its holdings in Applied Materials by 326.3% during 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials in the third quarter worth approximately $37,000. Finally, DT Investment Partners LLC increased its stake in shares of Applied Materials by 592.9% in the third 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. 80.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup dropped their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Needham & Company LLC cut their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Evercore ISI lowered their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Mizuho cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.24.

Applied Materials Trading Down 0.5 %

AMAT stock opened at $170.86 on Tuesday. The firm’s fifty day simple moving average is $173.69 and its two-hundred day simple moving average is $192.18. The stock has a market capitalization of $139.03 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a twelve month low of $149.84 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same period in the prior year, the company posted $2.12 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Applied Materials, Inc. will post 9.48 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Applied Materials Company 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.