ARGA Investment Management LP Buys 1,573 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

ARGA Investment Management LP raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 57.1% in the fourth quarter, Holdings Channel reports. The firm owned 4,327 shares of the manufacturing equipment provider’s stock after acquiring an additional 1,573 shares during the quarter. ARGA Investment Management LP’s holdings in Applied Materials were worth $704,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMAT. Clean Yield Group bought a new position in shares of Applied Materials in the third quarter valued at $33,000. First PREMIER Bank grew its position in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. Crews Bank & Trust acquired a new position in shares of Applied Materials during the 4th quarter worth about $28,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials in the 3rd quarter valued at about $37,000. Finally, DT Investment Partners LLC raised its holdings in shares of Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT opened at $178.56 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials, Inc. has a 52-week low of $158.96 and a 52-week high of $255.89. The firm has a market cap of $145.12 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.53. The business’s fifty day moving average is $174.56 and its 200-day moving average is $186.14.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $2.12 EPS. Sell-side analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 18.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Needham & Company LLC lowered their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. The Goldman Sachs Group dropped their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.71.

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.