Transce3nd LLC Purchases Shares of 4,743 Applied Materials, Inc. (NASDAQ:AMAT)

Transce3nd LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,743 shares of the manufacturing equipment provider's stock, valued at approximately $779,000.

Several other hedge funds also recently modified their holdings of the business. Advisory Resource Group increased its stake in shares of Applied Materials by 22.5% in the 3rd quarter. Advisory Resource Group now owns 24,867 shares of the manufacturing equipment provider's stock valued at $5,024,000 after acquiring an additional 4,561 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Applied Materials by 3.7% in the third quarter. SkyView Investment Advisors LLC now owns 3,746 shares of the manufacturing equipment provider's stock worth $757,000 after purchasing an additional 133 shares during the period. Pine Valley Investments Ltd Liability Co boosted its position in shares of Applied Materials by 26.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 47,649 shares of the manufacturing equipment provider's stock worth $9,627,000 after purchasing an additional 9,941 shares in the last quarter. World Investment Advisors LLC grew its holdings in shares of Applied Materials by 70.6% in the 3rd quarter. World Investment Advisors LLC now owns 9,845 shares of the manufacturing equipment provider's stock valued at $1,989,000 after buying an additional 4,073 shares during the period. Finally, Sfmg LLC increased its position in shares of Applied Materials by 0.4% in the 3rd quarter. Sfmg LLC now owns 54,967 shares of the manufacturing equipment provider's stock valued at $11,106,000 after buying an additional 219 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

AMAT traded up $6.59 during trading on Thursday, hitting $150.17. The stock had a trading volume of 7,602,808 shares, compared to its average volume of 6,661,779. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm has a market cap of $122.00 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.81 and a beta of 1.61. The company has a 50 day moving average price of $150.33 and a 200-day moving average price of $169.51. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data 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 net margin of 22.95% and a return on equity of 39.50%. As a group, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current 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 $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.23%. Applied Materials's payout ratio is presently 24.05%.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price on the stock in a report on Friday, March 28th. Edward Jones raised shares of Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Susquehanna boosted their price target on Applied Materials from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Wells Fargo & Company decreased their price objective on Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group dropped their target price on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $208.86.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CEO Gary E. Dickerson bought 50,000 shares of Applied Materials stock in a transaction on Thursday, April 3rd. The shares were purchased 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 directly owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. The trade was a 3.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the transaction, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at $880,131.91. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

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.