Intech Investment Management LLC Has $9.31 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Intech Investment Management LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 66.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,221 shares of the manufacturing equipment provider’s stock after acquiring an additional 22,842 shares during the quarter. Intech Investment Management LLC’s holdings in Applied Materials were worth $9,306,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Crews Bank & Trust bought a new position in Applied Materials in the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials in the 4th quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials in the 3rd quarter valued at $37,000. Finally, City Holding Co. bought a new stake in Applied Materials during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

Applied Materials Price Performance

Applied Materials stock opened at $155.46 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a 52-week low of $145.37 and a 52-week high of $255.89. The stock’s 50 day moving average price is $172.10 and its two-hundred day moving average price is $178.88. The stock has a market capitalization of $126.30 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.81 and a beta of 1.62.

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 return on equity of 39.50% and a net margin of 22.95%. On average, equities analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

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

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Analyst Ratings Changes

Several research firms have commented on AMAT. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Stifel Nicolaus reduced their price objective on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research report on Friday, January 17th. The Goldman Sachs Group lowered their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC decreased their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

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.