Symmetry Investments LP Decreases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Symmetry Investments LP trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 96.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,000 shares of the manufacturing equipment provider's stock after selling 109,000 shares during the quarter. Symmetry Investments LP's holdings in Applied Materials were worth $651,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ironvine Capital Partners LLC increased its holdings in Applied Materials by 710.1% during the 4th quarter. Ironvine Capital Partners LLC now owns 31,854 shares of the manufacturing equipment provider's stock worth $5,180,000 after purchasing an additional 27,922 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Applied Materials by 55.2% during the fourth quarter. MGO One Seven LLC now owns 23,793 shares of the manufacturing equipment provider's stock valued at $3,870,000 after buying an additional 8,462 shares during the last quarter. Alta Advisers Ltd grew its holdings in Applied Materials by 9.4% during the fourth quarter. Alta Advisers Ltd now owns 2,736 shares of the manufacturing equipment provider's stock worth $445,000 after buying an additional 236 shares in the last quarter. Beacon Investment Advisors LLC raised its position in Applied Materials by 55.0% in the 4th quarter. Beacon Investment Advisors LLC now owns 37,183 shares of the manufacturing equipment provider's stock valued at $6,047,000 after buying an additional 13,198 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in Applied Materials by 7.6% during the 4th quarter. Stifel Financial Corp now owns 829,786 shares of the manufacturing equipment provider's stock valued at $134,964,000 after acquiring an additional 58,809 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Price Performance

NASDAQ AMAT traded up $1.38 during trading hours on Friday, hitting $151.55. The company had a trading volume of 4,804,419 shares, compared to its average volume of 6,672,278. The firm has a 50 day simple moving average of $149.54 and a 200 day simple moving average of $168.82. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89. The firm has a market capitalization of $123.13 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.81 and a beta of 1.61. 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 posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping 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 research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

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

Applied Materials declared that its board has initiated a share repurchase program on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on AMAT shares. Mizuho lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Barclays dropped their target price on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Bank of America reduced their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price target on the stock in a report on Friday, January 17th. Finally, The Goldman Sachs Group reduced their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.86.

Insider Buying and Selling

In related news, CEO Gary E. Dickerson acquired 50,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at approximately $235,614,763.40. The trade was a 3.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Adam Sanders sold 271 shares of the company's stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Applied Materials 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.