Stevens Capital Management LP Acquires 2,970 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Stevens Capital Management LP lifted its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 225.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,287 shares of the manufacturing equipment provider's stock after buying an additional 2,970 shares during the period. Stevens Capital Management LP's holdings in Applied Materials were worth $697,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EdgePoint Investment Group Inc. lifted its position 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 worth $577,288,000 after acquiring an additional 2,209,218 shares during the period. Janus Henderson Group PLC raised its stake in shares of Applied Materials by 67.8% in the third quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider's stock valued at $942,187,000 after purchasing an additional 1,884,153 shares in the last quarter. Raymond James Financial Inc. bought a new position in Applied Materials in the fourth quarter worth $182,962,000. Alecta Tjanstepension Omsesidigt acquired a new stake in Applied Materials during the fourth quarter worth $157,426,000. Finally, Flossbach Von Storch SE increased its holdings in 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. 80.56% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

AMAT has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group decreased their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Susquehanna increased their target price on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Stifel Nicolaus decreased their price target on Applied Materials from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Mizuho lowered their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials currently has an average rating of "Moderate Buy" and a consensus target price of $215.38.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by insiders.

Applied Materials Trading Down 2.0 %

Shares of AMAT traded down $3.00 during trading hours on Thursday, hitting $147.68. 6,892,582 shares of the stock traded hands, compared to its average volume of 5,912,271. The business has a fifty day moving average of $168.27 and a 200-day moving average of $177.14. The firm has a market capitalization of $119.98 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 1-year low of $145.37 and a 1-year high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

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%. Analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. 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. Applied Materials's dividend payout ratio is 24.05%.

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