Vinva Investment Management Ltd Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Vinva Investment Management Ltd lifted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,660 shares of the manufacturing equipment provider’s stock after buying an additional 4,747 shares during the quarter. Vinva Investment Management Ltd’s holdings in Applied Materials were worth $7,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Applied Materials in the 4th quarter valued at $28,000. FPC Investment Advisory Inc. acquired a new position in Applied Materials during the 4th quarter worth $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in Applied Materials during the 3rd quarter worth $37,000. Finally, City Holding Co. acquired a new position in Applied Materials during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $153.51 on Wednesday. The business’s fifty day moving average price is $171.61 and its two-hundred day moving average price is $178.57. The stock has a market cap of $124.72 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. 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 one year low of $145.37 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced 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%. On average, analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

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 issued a dividend of $0.46 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.20%. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials declared that its Board of Directors has authorized a stock repurchase program 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 purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

AMAT has been the subject of several analyst reports. Sanford C. Bernstein lowered their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Needham & Company LLC lowered their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Citigroup upped their price objective on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Stifel Nicolaus lowered their price objective on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction 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 owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

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.