Fox Run Management L.L.C. Takes Position in Applied Materials, Inc. (NASDAQ:AMAT)

Fox Run Management L.L.C. acquired a new position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,885 shares of the manufacturing equipment provider's stock, valued at approximately $1,120,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AMAT. Swedbank AB raised its position in shares of Applied Materials by 2.6% during the third quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider's stock valued at $857,615,000 after buying an additional 108,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Applied Materials in the 3rd quarter worth $319,000. King Luther Capital Management Corp boosted its holdings in shares of Applied Materials by 2.7% during the 3rd quarter. King Luther Capital Management Corp now owns 4,037 shares of the manufacturing equipment provider's stock valued at $816,000 after purchasing an additional 106 shares during the last quarter. LPL Financial LLC grew its position in shares of Applied Materials by 9.6% during the third quarter. LPL Financial LLC now owns 557,566 shares of the manufacturing equipment provider's stock valued at $112,656,000 after purchasing an additional 48,861 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Applied Materials by 4.4% in the third quarter. Pacer Advisors Inc. now owns 143,185 shares of the manufacturing equipment provider's stock worth $28,931,000 after purchasing an additional 5,997 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several research firms have weighed in on AMAT. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Citigroup upped their price target on shares of Applied Materials from $194.00 to $202.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Susquehanna boosted their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Barclays lowered their price target on shares of Applied Materials from $200.00 to $190.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. Finally, KeyCorp raised Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price objective on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $215.38.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company's stock.

Applied Materials Stock Down 2.0 %

Applied Materials stock traded down $3.00 during trading hours on Thursday, reaching $147.68. The stock had a trading volume of 6,892,582 shares, compared to its average volume of 5,912,271. The company has a market cap of $119.98 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.81 and a beta of 1.62. The business's 50 day moving average price is $169.05 and its 200-day moving average price is $177.34. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 1.25%. Applied Materials's dividend payout ratio (DPR) is 24.05%.

Applied Materials announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.