Erste Asset Management GmbH Grows Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Erste Asset Management GmbH lifted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 11.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 506,279 shares of the manufacturing equipment provider’s stock after purchasing an additional 53,114 shares during the period. Applied Materials accounts for approximately 1.0% of Erste Asset Management GmbH’s investment portfolio, making the stock its 17th largest holding. Erste Asset Management GmbH’s holdings in Applied Materials were worth $83,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMAT. EdgePoint Investment Group Inc. boosted its stake in shares of Applied Materials by 341.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock worth $577,288,000 after buying an additional 2,209,218 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Applied Materials by 67.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after buying an additional 1,884,153 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Applied Materials in the 4th quarter worth $182,962,000. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Applied Materials in the 4th quarter worth $157,426,000. Finally, Flossbach Von Storch SE raised its holdings in Applied Materials by 126.6% in the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock worth $260,221,000 after purchasing an additional 893,995 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Price Performance

NASDAQ:AMAT opened at $149.06 on Thursday. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $121.10 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89. The business’s 50-day moving average is $173.10 and its 200 day moving average is $179.85.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS 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%. On average, equities research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has authorized a stock buyback program 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 purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Applied Materials Increases Dividend

The business 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 dividend of $0.46 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s payout ratio is presently 20.92%.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the business’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 transaction of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMAT. Barclays decreased their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. The Goldman Sachs Group decreased their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Needham & Company LLC decreased their target price on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Evercore ISI decreased their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Susquehanna raised 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.