Parametrica Management Ltd Invests $419,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Parametrica Management Ltd bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,575 shares of the manufacturing equipment provider’s stock, valued at approximately $419,000. Applied Materials accounts for 0.6% of Parametrica Management Ltd’s holdings, making the stock its 23rd biggest holding.

Other hedge funds have also recently modified their holdings of the company. Penobscot Investment Management Company Inc. lifted its position in shares of Applied Materials by 0.6% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 17,651 shares of the manufacturing equipment provider’s stock worth $2,871,000 after buying an additional 100 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Applied Materials in the 4th quarter valued at $133,000. Florida Financial Advisors LLC increased its stake in Applied Materials by 9.3% in the 4th quarter. Florida Financial Advisors LLC now owns 4,763 shares of the manufacturing equipment provider’s stock worth $775,000 after buying an additional 407 shares during the period. Potentia Wealth purchased a new stake in shares of Applied Materials in the fourth quarter valued at approximately $824,000. Finally, Signature Estate & Investment Advisors LLC grew its position in shares of Applied Materials by 4.0% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 92,921 shares of the manufacturing equipment provider’s stock worth $15,112,000 after buying an additional 3,558 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT opened at $153.64 on Wednesday. The firm has a market cap of $124.82 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average is $169.60 and its 200-day moving average is $177.53. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89.

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

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

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.20%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is 24.05%.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction 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 approximately $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC dropped their target price on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Citigroup lifted their price target on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays decreased their price objective on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, Sanford C. Bernstein decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and an average price target of $215.38.

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.