Applied Materials, Inc. (NASDAQ:AMAT) Position Increased by Value Partners Investments Inc.

Value Partners Investments Inc. increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 40.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,934 shares of the manufacturing equipment provider’s stock after acquiring an additional 4,038 shares during the period. Value Partners Investments Inc.’s holdings in Applied Materials were worth $2,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AMAT. Runnymede Capital Advisors Inc. raised its holdings in shares of Applied Materials by 972.2% during the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock worth $28,000 after acquiring an additional 175 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Applied Materials during the fourth quarter worth $44,000. Atala Financial Inc bought a new position in Applied Materials during the fourth quarter valued at about $45,000. Minot DeBlois Advisors LLC bought a new position in Applied Materials during the fourth quarter valued at about $46,000. Finally, Noble Wealth Management PBC bought a new position in Applied Materials during the fourth quarter valued at about $48,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Up 1.6%

Shares of AMAT opened at $183.07 on Thursday. The stock has a market cap of $146.91 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 2.01 and a beta of 1.67. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The company has a 50-day moving average price of $161.25 and a two-hundred day moving average price of $163.14.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 earnings per share. Equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials declared that its board has authorized a stock repurchase program on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is currently 22.38%.

Insider Activity

In other news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the transaction, the chief accounting officer now owns 5,300 shares in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary E. Dickerson acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the transaction, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. The trade was a 3.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on AMAT shares. Wells Fargo & Company restated a “mixed” rating on shares of Applied Materials in a report on Friday, May 16th. Cantor Fitzgerald raised their target price on Applied Materials from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Applied Materials in a report on Friday, May 16th. B. Riley lowered their price target on Applied Materials from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Mizuho lowered their price target on Applied Materials from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.24.

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.