Gallacher Capital Management LLC Has $277,000 Position in Applied Materials, Inc. (NASDAQ:AMAT)

Gallacher Capital Management LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,702 shares of the manufacturing equipment provider’s stock after purchasing an additional 107 shares during the quarter. Gallacher Capital Management LLC’s holdings in Applied Materials were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AMAT. Sovereign Investment Advisors LLC bought a new position in Applied Materials in the 4th quarter worth $413,000. one8zero8 LLC acquired a new stake in shares of Applied Materials during the 4th quarter valued at about $212,000. Choate Investment Advisors boosted its position in Applied Materials by 3.5% in the fourth quarter. Choate Investment Advisors now owns 27,337 shares of the manufacturing equipment provider’s stock valued at $4,446,000 after buying an additional 930 shares in the last quarter. Diversified Enterprises LLC boosted its position in Applied Materials by 3.6% in the fourth quarter. Diversified Enterprises LLC now owns 2,132 shares of the manufacturing equipment provider’s stock valued at $347,000 after buying an additional 74 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in Applied Materials by 2.7% in the fourth quarter. Natixis Advisors LLC now owns 706,729 shares of the manufacturing equipment provider’s stock valued at $114,935,000 after buying an additional 18,760 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 3.8 %

Shares of AMAT stock opened at $155.66 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89. The stock has a market capitalization of $126.46 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a 50 day moving average price of $172.54 and a 200 day moving average price of $179.15.

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

Applied Materials announced that its board has authorized a stock repurchase 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 reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently declared 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 dividend yield of 1.18%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMAT has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Needham & Company LLC reduced their price target 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. Susquehanna lifted their target price on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a research report on Friday, January 17th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.