TCI Wealth Advisors Inc. Trims Position in Applied Materials, Inc. (NASDAQ:AMAT)

TCI Wealth Advisors Inc. decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 15.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,554 shares of the manufacturing equipment provider’s stock after selling 278 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Applied Materials were worth $253,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Clean Yield Group purchased a new position in shares of Applied Materials in the third quarter valued at about $33,000. First PREMIER Bank raised its stake in Applied Materials by 326.3% during the 3rd 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 during the period. Crews Bank & Trust purchased a new position in Applied Materials in the 4th quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new position in Applied Materials in the 3rd quarter worth approximately $37,000. Finally, DT Investment Partners LLC grew its holdings in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company dropped their price objective on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Needham & Company LLC reduced their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Mizuho dropped their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.71.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT opened at $180.35 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $158.96 and a 12 month high of $255.89. The company has a market capitalization of $146.57 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.79 and a beta of 1.53. The firm’s 50-day moving average is $174.37 and its 200 day moving average is $187.51.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the prior year, the firm posted $2.12 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

About Applied Materials

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.