Vident Advisory LLC Sells 8,080 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Vident Advisory LLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,972 shares of the manufacturing equipment provider’s stock after selling 8,080 shares during the period. Vident Advisory LLC’s holdings in Applied Materials were worth $11,217,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AMAT. Rheos Capital Works Inc. raised its position in shares of Applied Materials by 2.7% in the 4th quarter. Rheos Capital Works Inc. now owns 170,100 shares of the manufacturing equipment provider’s stock worth $27,663,000 after acquiring an additional 4,500 shares in the last quarter. Jacobi Capital Management LLC raised its position in shares of Applied Materials by 51.2% in the 4th quarter. Jacobi Capital Management LLC now owns 18,785 shares of the manufacturing equipment provider’s stock worth $3,055,000 after acquiring an additional 6,364 shares in the last quarter. Skye Global Management LP bought a new position in shares of Applied Materials in the 4th quarter worth about $45,862,000. Cable Hill Partners LLC raised its position in shares of Applied Materials by 10.2% in the 4th quarter. Cable Hill Partners LLC now owns 3,485 shares of the manufacturing equipment provider’s stock worth $567,000 after acquiring an additional 322 shares in the last quarter. Finally, CX Institutional raised its position in shares of Applied Materials by 49.9% in the 4th quarter. CX Institutional now owns 31,404 shares of the manufacturing equipment provider’s stock worth $5,107,000 after acquiring an additional 10,459 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $165.94 on Tuesday. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. The stock’s 50 day moving average price is $149.52 and its 200-day moving average price is $165.12. The company has a market capitalization of $134.82 billion, a PE ratio of 21.69, a PEG ratio of 1.81 and a beta of 1.71. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

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

Applied Materials announced that its Board of Directors has initiated a share repurchase plan on Monday, March 10th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Applied Materials Increases Dividend

The company 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 $0.46 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.11%. Applied Materials’s dividend payout ratio is presently 22.38%.

Insider Activity at Applied Materials

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired 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 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Adam Sanders sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the transaction, the chief accounting officer now owns 6,077 shares in the company, 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. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

AMAT has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Applied Materials in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 target price on shares of Applied Materials in a research report on Friday. Stifel Nicolaus decreased their target price on Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Citigroup boosted their target price on Applied Materials from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $200.00 target price (down from $225.00) on shares of Applied Materials 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 given a buy rating to the company. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $199.48.

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.