Dynamic Technology Lab Private Ltd Acquires New Shares in Applied Materials, Inc. (NASDAQ:AMAT)

Dynamic Technology Lab Private Ltd bought a new position in Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,666 shares of the manufacturing equipment provider’s stock, valued at approximately $1,409,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Capital Management LLC lifted its stake in Applied Materials by 4.9% during the fourth quarter. Cullen Capital Management LLC now owns 19,265 shares of the manufacturing equipment provider’s stock valued at $3,133,000 after purchasing an additional 893 shares during the last quarter. Oarsman Capital Inc. lifted its position in Applied Materials by 11.7% in the 4th quarter. Oarsman Capital Inc. now owns 1,613 shares of the manufacturing equipment provider’s stock worth $262,000 after buying an additional 169 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Applied Materials during the fourth quarter worth $44,060,000. Bornite Capital Management LP lifted its holdings in shares of Applied Materials by 100.0% during the 4th quarter. Bornite Capital Management LP now owns 100,000 shares of the manufacturing equipment provider’s stock valued at $16,263,000 after buying an additional 50,000 shares during the last quarter. Finally, Pitcairn Co. lifted its stake in Applied Materials by 1.5% in the fourth quarter. Pitcairn Co. now owns 7,968 shares of the manufacturing equipment provider’s stock valued at $1,296,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 6.3 %

Shares of NASDAQ AMAT opened at $126.95 on Friday. Applied Materials, Inc. has a 52-week low of $123.94 and a 52-week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The business has a fifty day moving average of $162.19 and a two-hundred day moving average of $175.37. The stock has a market cap of $103.14 billion, a PE ratio of 16.59, a PEG ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.45%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

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

Analysts Set New Price Targets

Several research firms recently weighed in on AMAT. Susquehanna boosted their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Needham & Company LLC lowered their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research report on Friday, March 28th. Finally, Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.67.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

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.