Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 756.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 511,100 shares of the manufacturing equipment provider’s stock after acquiring an additional 451,400 shares during the period. Two Sigma Advisers LP owned approximately 0.06% of Applied Materials worth $83,120,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Two Sigma Investments LP boosted its position in shares of Applied Materials by 10,767.6% in the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider’s stock worth $219,157,000 after acquiring an additional 1,335,180 shares during the last quarter. Texas Bank & Trust Co acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $1,951,000. TrinityPoint Wealth LLC boosted its position in shares of Applied Materials by 4.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 8,012 shares of the manufacturing equipment provider’s stock worth $1,303,000 after acquiring an additional 364 shares during the last quarter. Strategic Global Advisors LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $3,128,000. Finally, Skye Global Management LP acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $45,862,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Down 5.3%

NASDAQ AMAT opened at $165.57 on Monday. The company’s fifty day simple moving average is $149.19 and its 200-day simple moving average is $165.24. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week 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. The stock has a market cap of $134.52 billion, a P/E ratio of 21.64, a PEG ratio of 1.81 and a beta of 1.71.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Equities research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its board has authorized a stock repurchase plan on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is 22.38%.

Insider Buying and Selling

In other Applied Materials news, CEO Gary E. Dickerson bought 50,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Adam Sanders sold 450 shares of the business’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 sale, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMAT. Bank of America decreased their target price on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald reduced their price target on shares of Applied Materials from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Citigroup lifted their price target on shares of Applied Materials from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Mizuho reduced their price target on shares of Applied Materials from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, TD Cowen reduced their price target on shares of Applied Materials from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $199.48.

About Applied Materials

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.