Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 72.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,079 shares of the manufacturing equipment provider's stock after selling 5,529 shares during the period. Magnetar Financial LLC's holdings in Applied Materials were worth $338,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMAT. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials during the 4th quarter worth approximately $28,000. Crews Bank & Trust purchased a new position in Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership acquired a new position in shares of Applied Materials in the fourth quarter worth $32,000. Dunhill Financial LLC lifted its position in shares of Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials during the fourth quarter valued at $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group cut their price objective on shares of Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Needham & Company LLC decreased their target price 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. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price target for the company in a report on Friday, January 17th. Finally, Susquehanna raised their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $215.38.

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Applied Materials Stock Down 2.0 %

Shares of NASDAQ:AMAT traded down $3.00 during midday trading on Thursday, hitting $147.68. 6,892,582 shares of the company's stock traded hands, compared to its average volume of 5,901,059. Applied Materials, Inc. has a twelve month low of $145.37 and a twelve month high of $255.89. The company has a market cap of $119.98 billion, a PE ratio of 19.30, 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 quick ratio of 1.96 and a current ratio of 2.67. The firm's fifty day moving average price is $169.05 and its two-hundred day moving average price is $177.34.

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 return on equity of 39.50% and a net margin of 22.95%. On average, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given 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 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, May 22nd. Applied Materials's payout ratio is presently 24.05%.

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

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company's stock.

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.