Sciencast Management LP Makes New $580,000 Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Sciencast Management LP acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,566 shares of the manufacturing equipment provider’s stock, valued at approximately $580,000.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in Applied Materials by 8.6% during the fourth quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock worth $340,895,000 after buying an additional 164,085 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Applied Materials by 62.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock valued at $343,138,000 after purchasing an additional 653,739 shares in the last quarter. Pensionfund Sabic boosted its stake in shares of Applied Materials by 38.9% in the 4th quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock valued at $2,147,000 after purchasing an additional 3,700 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Applied Materials by 59.1% in the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock valued at $7,380,000 after purchasing an additional 16,851 shares in the last quarter. Finally, Advisors Management Group Inc. ADV acquired a new stake in shares of Applied Materials in the 4th quarter valued at approximately $339,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT stock opened at $152.12 on Friday. The company has a market cap of $123.59 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. 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 firm has a 50 day moving average of $170.32 and a 200-day moving average of $177.89.

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

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.21%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Applied Materials declared that its board has initiated a share buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

AMAT has been the topic of a number of research analyst reports. Morgan Stanley restated an “underweight” rating and issued a $164.00 price target (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Needham & Company LLC dropped their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, February 14th. Sanford C. Bernstein dropped their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Barclays dropped their price objective on shares of 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 raised their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction on Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the sale, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by insiders.

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.