3,440 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Bought by Polymer Capital Management US LLC

Polymer Capital Management US LLC acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,440 shares of the manufacturing equipment provider’s stock, valued at approximately $559,000.

Other institutional investors have also modified their holdings of the company. Two Sigma Advisers LP raised its holdings in shares of Applied Materials by 18.0% during the third quarter. Two Sigma Advisers LP now owns 59,700 shares of the manufacturing equipment provider’s stock valued at $12,062,000 after acquiring an additional 9,100 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Applied Materials by 19.3% during the third quarter. EP Wealth Advisors LLC now owns 70,217 shares of the manufacturing equipment provider’s stock worth $14,187,000 after purchasing an additional 11,365 shares in the last quarter. XTX Topco Ltd acquired a new position in Applied Materials in the 3rd quarter valued at $2,006,000. Main Management ETF Advisors LLC purchased a new position in Applied Materials in the 3rd quarter valued at $784,000. Finally, Dunhill Financial LLC boosted its stake in Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Citigroup raised their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Barclays lowered 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. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a report on Friday, March 28th. Finally, 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 note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $214.67.

Applied Materials Stock Down 6.3 %

NASDAQ:AMAT opened at $126.95 on Monday. Applied Materials, Inc. has a 52 week low of $121.86 and a 52 week high of $255.89. The stock’s fifty day moving average is $162.19 and its two-hundred day moving average is $175.20. The stock has a market capitalization of $103.14 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio is presently 24.05%.

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

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 450 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value of $65,173.50. Following the sale, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at $880,131.91. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by company insiders.

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.