FORA Capital LLC Makes New $13.64 Million Investment in Applied Materials, Inc. (NASDAQ:AMAT)

FORA Capital LLC purchased a new position in Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 83,842 shares of the manufacturing equipment provider’s stock, valued at approximately $13,635,000. Applied Materials makes up approximately 1.6% of FORA Capital LLC’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds also recently modified their holdings of the business. Crews Bank & Trust acquired a new stake in Applied Materials during the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. acquired a new stake in shares of Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership bought a new stake in Applied Materials in the 4th quarter valued at $32,000. City Holding Co. bought a new stake in shares of Applied Materials in the fourth quarter valued at about $39,000. Finally, Atala Financial Inc bought a new position in Applied Materials in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Up 2.0 %

Shares of NASDAQ AMAT opened at $156.15 on Thursday. The business has a 50-day simple moving average of $147.13 and a two-hundred day simple moving average of $166.38. The company has a market cap of $126.86 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.81 and a beta of 1.71. Applied Materials, Inc. has a 52 week low of $123.74 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.

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

Applied Materials declared that its Board of Directors has authorized a share buyback plan on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.18%. Applied Materials’s dividend payout ratio is 24.05%.

Insider Buying and Selling

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the purchase, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. The trade was a 3.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam Sanders sold 271 shares of Applied Materials 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 sale, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMAT has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays cut their price target on Applied Materials from $190.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price for the company in a research note on Friday, January 17th. Wells Fargo & Company cut their price objective 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. Finally, Mizuho lowered their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.86.

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.