Intech Investment Management LLC Acquires 22,842 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Intech Investment Management LLC raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 66.4% in the fourth quarter, HoldingsChannel reports. The firm owned 57,221 shares of the manufacturing equipment provider’s stock after acquiring an additional 22,842 shares during the period. Intech Investment Management LLC’s holdings in Applied Materials were worth $9,306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AMAT. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials in the 4th quarter valued at $28,000. Crews Bank & Trust purchased a new stake in Applied Materials during the 4th quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials during the 3rd quarter valued at about $37,000. YANKCOM Partnership acquired a new position in shares of Applied Materials in the 4th quarter valued at about $32,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares during the period. 80.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on AMAT. Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Citigroup increased their price objective on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group decreased their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Susquehanna upped their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company reduced their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Trading Down 0.1 %

Shares of NASDAQ AMAT opened at $155.46 on Tuesday. Applied Materials, Inc. has a 1-year low of $145.37 and a 1-year high of $255.89. The company has a market cap of $126.30 billion, a PE ratio of 20.32, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $172.10 and a two-hundred day moving average of $178.88.

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

Applied Materials Increases Dividend

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

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

Insider Buying and Selling

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by insiders.

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.