Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 316.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,309 shares of the manufacturing equipment provider’s stock after acquiring an additional 6,314 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Applied Materials were worth $1,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Applied Materials in the fourth quarter worth $7,274,000. Gotham Asset Management LLC grew its position in Applied Materials by 31.2% during the third quarter. Gotham Asset Management LLC now owns 164,751 shares of the manufacturing equipment provider’s stock valued at $22,810,000 after buying an additional 39,194 shares during the period. California Public Employees Retirement System grew its position in Applied Materials by 0.3% during the third quarter. California Public Employees Retirement System now owns 2,161,556 shares of the manufacturing equipment provider’s stock valued at $299,267,000 after buying an additional 6,466 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Applied Materials by 9.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 830,038 shares of the manufacturing equipment provider’s stock valued at $114,919,000 after buying an additional 69,388 shares during the period. Finally, New England Research & Management Inc. acquired a new stake in Applied Materials during the third quarter valued at $433,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group raised their price target on shares of Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Stifel Nicolaus raised their price target on shares of Applied Materials from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group raised their price target on shares of Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 16th. TD Cowen increased their price objective on shares of Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Barclays increased their price objective on shares of Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.83.

Check Out Our Latest Research Report on AMAT

Applied Materials Stock Performance

NASDAQ:AMAT opened at $208.69 on Tuesday. Applied Materials, Inc. has a twelve month low of $109.00 and a twelve month high of $214.91. The company has a market cap of $173.40 billion, a P/E ratio of 24.55, a P/E/G ratio of 3.12 and a beta of 1.59. The company’s 50-day moving average price is $192.04 and its 200-day moving average price is $162.88. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31.

Applied Materials (NASDAQ:AMATGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm had revenue of $6.71 billion during the quarter, compared to analysts’ expectations of $6.48 billion. During the same period last year, the business earned $2.03 earnings per share. Applied Materials’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Applied Materials, Inc. will post 8.03 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be given a dividend of $0.40 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 15.06%.

Applied Materials Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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