Mirabella Financial Services LLP Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mirabella Financial Services LLP reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,916 shares of the manufacturing equipment provider’s stock after selling 25,358 shares during the period. Applied Materials accounts for about 1.9% of Mirabella Financial Services LLP’s portfolio, making the stock its 11th largest holding. Mirabella Financial Services LLP’s holdings in Applied Materials were worth $28,674,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Applied Materials by 29.8% during the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after purchasing an additional 1,509,439 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Applied Materials by 1.6% during the second quarter. American Century Companies Inc. now owns 5,084,186 shares of the manufacturing equipment provider’s stock worth $1,199,817,000 after buying an additional 81,151 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Applied Materials by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,679,355 shares of the manufacturing equipment provider’s stock valued at $945,464,000 after buying an additional 44,928 shares during the last quarter. Swedbank AB lifted its stake in shares of Applied Materials by 2.6% in the third quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider’s stock worth $857,615,000 after buying an additional 108,827 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Applied Materials by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,839,715 shares of the manufacturing equipment provider’s stock worth $906,134,000 after acquiring an additional 59,910 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

AMAT stock opened at $176.58 on Monday. The business’s fifty day moving average price is $189.83 and its 200 day moving average price is $205.71. Applied Materials, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $145.57 billion, a PE ratio of 20.31, a P/E/G ratio of 1.64 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) 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 firm earned $2.12 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.91%. Applied Materials’s dividend payout ratio is presently 18.58%.

Analyst Ratings Changes

A number of research analysts have weighed in on AMAT shares. Susquehanna decreased their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Bank of America reduced their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Morgan Stanley dropped their target price on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. TD Cowen reduced their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Mizuho dropped their price objective 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. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $222.05.

Applied Materials 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.