Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD Purchases Shares of 53,530 Applied Materials, Inc. (NASDAQ:AMAT)

Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 53,530 shares of the manufacturing equipment provider's stock, valued at approximately $8,698,000.

A number of other hedge funds also recently made changes to their positions in AMAT. EdgePoint Investment Group Inc. raised its stake in shares of Applied Materials by 341.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider's stock valued at $577,288,000 after acquiring an additional 2,209,218 shares during the period. Janus Henderson Group PLC increased its position in shares of Applied Materials by 67.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider's stock worth $942,187,000 after purchasing an additional 1,884,153 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Applied Materials in the 4th quarter worth about $182,962,000. Alecta Tjanstepension Omsesidigt bought a new stake in shares of Applied Materials in the 4th quarter worth about $157,426,000. Finally, Flossbach Von Storch SE boosted its holdings in shares of Applied Materials by 126.6% in the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider's stock valued at $260,221,000 after buying an additional 893,995 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $146.99 on Wednesday. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year high of $255.89. The firm's fifty day simple moving average is $173.37 and its 200 day simple moving average is $180.06. 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 firm has a market capitalization of $119.42 billion, a PE ratio of 19.21, a PEG ratio of 1.81 and a beta of 1.62.

Remove Ads

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted 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%. On average, 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 disclosed 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 represents a $1.84 dividend on an annualized basis and a dividend yield of 1.25%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials's dividend payout ratio (DPR) is presently 20.92%.

Applied Materials announced that its board has authorized a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

AMAT has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Stifel Nicolaus decreased their price objective on shares of Applied Materials from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday. Morgan Stanley reissued an "underweight" rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Finally, TD Cowen cut their target price on shares of Applied Materials from $250.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.38.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of Applied Materials 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 directly owns 6,479 shares of the company's stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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.

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.