Analog Century Management LP Increases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Analog Century Management LP grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 364,803 shares of the manufacturing equipment provider's stock after purchasing an additional 52,258 shares during the quarter. Applied Materials accounts for 4.0% of Analog Century Management LP's portfolio, making the stock its 13th largest position. Analog Century Management LP's holdings in Applied Materials were worth $59,328,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMAT. Field & Main Bank raised its stake in Applied Materials by 1.8% in the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider's stock valued at $516,000 after buying an additional 55 shares during the period. Bank of New Hampshire raised its stake in Applied Materials by 0.8% in the fourth quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider's stock valued at $1,138,000 after buying an additional 56 shares during the period. Grove Bank & Trust raised its stake in Applied Materials by 0.8% in the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider's stock valued at $1,202,000 after buying an additional 60 shares during the period. Cyndeo Wealth Partners LLC raised its stake in Applied Materials by 0.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider's stock valued at $2,375,000 after buying an additional 60 shares during the period. Finally, Mezzasalma Advisors LLC raised its stake in Applied Materials by 3.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider's stock valued at $335,000 after buying an additional 60 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares in the company, valued at $880,131.91. The trade was a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary E. Dickerson bought 50,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMAT shares. Mizuho lowered their target price on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Needham & Company LLC lowered their target price on Applied Materials from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Stifel Nicolaus lowered their target price on Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Citigroup lowered their target price on Applied Materials from $202.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company lowered their price objective on Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Applied Materials has a consensus rating of "Moderate Buy" and a consensus price target of $208.86.

Applied Materials Stock Down 1.0 %

Shares of AMAT traded down $1.56 during trading hours on Tuesday, reaching $149.23. The stock had a trading volume of 2,136,693 shares, compared to its average volume of 6,667,264. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The firm has a 50-day simple moving average of $149.08 and a 200 day simple moving average of $167.94. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $121.24 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced 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 shares. This repurchase authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Applied Materials Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.23%. Applied Materials's dividend payout ratio (DPR) is 24.05%.

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.