Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Foundry Partners LLC

Foundry Partners LLC trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,580 shares of the manufacturing equipment provider's stock after selling 12,028 shares during the quarter. Foundry Partners LLC's holdings in Applied Materials were worth $10,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bornite Capital Management LP raised its position in Applied Materials by 100.0% during the 4th quarter. Bornite Capital Management LP now owns 100,000 shares of the manufacturing equipment provider's stock worth $16,263,000 after buying an additional 50,000 shares during the last quarter. Pitcairn Co. increased its stake in shares of Applied Materials by 1.5% in the fourth quarter. Pitcairn Co. now owns 7,968 shares of the manufacturing equipment provider's stock worth $1,296,000 after acquiring an additional 121 shares during the period. Grant Private Wealth Management Inc purchased a new position in shares of Applied Materials during the fourth quarter worth $392,000. Arete Wealth Advisors LLC lifted its position in Applied Materials by 14.8% during the fourth quarter. Arete Wealth Advisors LLC now owns 8,228 shares of the manufacturing equipment provider's stock valued at $1,342,000 after purchasing an additional 1,063 shares during the period. Finally, World Investment Advisors lifted its position in Applied Materials by 171.5% during the fourth quarter. World Investment Advisors now owns 26,733 shares of the manufacturing equipment provider's stock valued at $4,348,000 after purchasing an additional 16,888 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have weighed in on AMAT shares. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Citigroup lifted their price target on Applied Materials from $194.00 to $202.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Susquehanna boosted their price target on Applied Materials from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Stifel Nicolaus dropped their price objective on shares of Applied Materials from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group decreased their target price on shares of Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $214.67.

Applied Materials Price Performance

AMAT stock traded down $8.56 during midday trading on Friday, reaching $126.95. The stock had a trading volume of 15,559,633 shares, compared to its average volume of 6,363,196. Applied Materials, Inc. has a 52-week low of $123.94 and a 52-week high of $255.89. 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's fifty day simple moving average is $162.19 and its 200 day simple moving average is $175.37. The company has a market cap of $103.14 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping 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, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's payout ratio is currently 24.05%.

Applied Materials announced that its Board of Directors has initiated a share buyback 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 often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Applied Materials news, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the sale, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at $880,131.91. This trade represents a 6.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company's stock.

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.