Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 66.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,221 shares of the manufacturing equipment provider's stock after buying an additional 22,842 shares during the quarter. Intech Investment Management LLC's holdings in Applied Materials were worth $9,306,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Generali Asset Management SPA SGR acquired a new position in Applied Materials in the 4th quarter valued at $15,356,000. Evoke Wealth LLC increased its stake in Applied Materials by 25.5% in the 4th quarter. Evoke Wealth LLC now owns 2,544 shares of the manufacturing equipment provider's stock valued at $414,000 after buying an additional 517 shares during the period. Horizon Investments LLC increased its stake in Applied Materials by 60.7% in the 4th quarter. Horizon Investments LLC now owns 31,112 shares of the manufacturing equipment provider's stock valued at $5,060,000 after buying an additional 11,749 shares during the period. Advisors Asset Management Inc. increased its stake in Applied Materials by 13.6% in the 4th quarter. Advisors Asset Management Inc. now owns 28,913 shares of the manufacturing equipment provider's stock valued at $4,702,000 after buying an additional 3,462 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Applied Materials by 2.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,023,598 shares of the manufacturing equipment provider's stock worth $166,730,000 after purchasing an additional 27,459 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several brokerages have commented on AMAT. Citigroup boosted their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Barclays decreased their target price on shares of Applied Materials from $200.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Mizuho decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. 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 research report on Wednesday, January 22nd. Finally, Morgan Stanley restated an "underweight" rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One equities research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $215.38.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the company's stock in a transaction dated Monday, February 24th. The shares were 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 of the company's stock, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.24% of the company's stock.

Applied Materials Trading Down 1.5 %

NASDAQ:AMAT traded down $2.26 on Friday, reaching $152.12. The stock had a trading volume of 15,887,839 shares, compared to its average volume of 5,879,209. The company has a market cap of $123.59 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.81 and a beta of 1.62. 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 firm's fifty day moving average is $170.32 and its two-hundred day moving average is $177.93. Applied Materials, Inc. has a 12-month low of $145.37 and a 12-month high of $255.89.

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

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio is currently 24.05%.

Applied Materials announced that its board has initiated a share buyback program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Applied Materials Company 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.