Nuance Investments LLC Makes New $7.02 Million Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Nuance Investments LLC acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 43,154 shares of the manufacturing equipment provider’s stock, valued at approximately $7,018,000.

Several other institutional investors have also added to or reduced their stakes in AMAT. Crews Bank & Trust bought a new position in Applied Materials in the 4th quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials in the 4th quarter valued at $28,000. YANKCOM Partnership purchased a new stake in Applied Materials in the fourth quarter valued at approximately $32,000. City Holding Co. purchased a new stake in Applied Materials in the fourth quarter valued at $39,000. Finally, Dunhill Financial LLC raised its position in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Applied Materials stock opened at $153.64 on Wednesday. Applied Materials, Inc. has a 52-week low of $145.37 and a 52-week high of $255.89. The firm has a market capitalization of $124.82 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.81 and a beta of 1.62. The stock has a fifty day moving average price of $169.60 and a two-hundred day moving average price of $177.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating the consensus estimate 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, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

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. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio is 24.05%.

Applied Materials declared that its Board of Directors has authorized a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMAT shares. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Mizuho lowered 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 note on Friday, January 10th. Needham & Company LLC reduced their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Barclays reduced their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Susquehanna upped their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $215.38.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

Applied Materials 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.