Quantbot Technologies LP Acquires New Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Quantbot Technologies LP acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,095 shares of the manufacturing equipment provider’s stock, valued at approximately $5,220,000.

Several other hedge funds have also bought and sold shares of AMAT. Crews Bank & Trust bought a new stake in Applied Materials during the fourth quarter valued at about $28,000. FPC Investment Advisory Inc. bought a new position in shares of Applied Materials in the fourth quarter worth about $28,000. YANKCOM Partnership bought a new position in Applied Materials during the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. bought a new position in Applied Materials during the third quarter valued at approximately $37,000. Finally, City Holding Co. bought a new position in Applied Materials during the fourth quarter valued at approximately $39,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 3.8 %

Applied Materials stock opened at $155.66 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The stock has a market capitalization of $126.46 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 1-year low of $145.37 and a 1-year high of $255.89. The business has a fifty day moving average price of $172.54 and a 200-day moving average price of $179.36.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials declared that its Board of Directors has authorized a stock buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a $0.46 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMAT. Bank of America decreased 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. Needham & Company LLC reduced their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Mizuho reduced their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Finally, Sanford C. Bernstein reduced their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $215.38.

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.