LSV Asset Management Cuts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

LSV Asset Management cut its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,357,768 shares of the manufacturing equipment provider's stock after selling 118,572 shares during the period. LSV Asset Management owned about 0.17% of Applied Materials worth $220,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new position in Applied Materials in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. bought a new position in shares of Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership purchased a new position in Applied Materials during the fourth quarter valued at $32,000. City Holding Co. bought a new stake in Applied Materials in the 4th quarter valued at $39,000. Finally, Atala Financial Inc bought a new stake in Applied Materials in the 4th quarter valued at $45,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMAT has been the topic of a number of research analyst reports. Susquehanna boosted their target price on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price for the company in a research report on Friday, March 28th. Needham & Company LLC reduced their price target on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Edward Jones raised shares of Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Mizuho dropped their price objective on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $213.14.

Applied Materials Price Performance

Shares of NASDAQ:AMAT traded down $0.76 during midday trading on Monday, hitting $144.18. The company's stock had a trading volume of 3,122,313 shares, compared to its average volume of 6,602,095. The company has a market cap of $117.14 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $255.89. The business's 50 day simple moving average is $156.82 and its 200 day simple moving average is $172.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its 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 return on equity of 39.50% and a net margin of 22.95%. On average, analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The business also recently announced 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 of this dividend is Thursday, May 22nd. This is an increase from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.28%. Applied Materials's dividend payout ratio (DPR) is 24.05%.

Applied Materials declared that its Board of Directors has approved a stock buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Applied Materials

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the purchase, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. This represents a 3.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Adam Sanders sold 271 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

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.