Cache Advisors LLC Makes New Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Cache Advisors LLC acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 17,147 shares of the manufacturing equipment provider's stock, valued at approximately $2,789,000. Applied Materials accounts for approximately 1.0% of Cache Advisors LLC's investment portfolio, making the stock its 21st largest holding.

Other large investors also recently modified their holdings of the company. LaFleur & Godfrey LLC boosted its holdings in shares of Applied Materials by 17.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 17,246 shares of the manufacturing equipment provider's stock worth $2,805,000 after acquiring an additional 2,536 shares in the last quarter. Eagle Capital Management LLC boosted its holdings in shares of Applied Materials by 1.8% in the 4th quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider's stock worth $2,603,000 after acquiring an additional 290 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Applied Materials by 45.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 183,841 shares of the manufacturing equipment provider's stock worth $29,898,000 after acquiring an additional 57,263 shares in the last quarter. True North Advisors LLC lifted its holdings in Applied Materials by 18.6% during the 4th quarter. True North Advisors LLC now owns 1,327 shares of the manufacturing equipment provider's stock worth $216,000 after buying an additional 208 shares in the last quarter. Finally, Red Door Wealth Management LLC acquired a new position in Applied Materials during the 4th quarter worth $262,000. 80.56% of the stock is currently owned by institutional investors.

Insider Transactions at Applied Materials

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

Analyst Upgrades and Downgrades

AMAT has been the topic of several research reports. Morgan Stanley reduced their price objective on Applied Materials from $164.00 to $162.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Applied Materials in a report on Friday, May 16th. B. Riley reduced their price objective on Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Barclays reduced their price objective on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America dropped their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Applied Materials currently has an average rating of "Moderate Buy" and a consensus target price of $199.48.

Applied Materials Stock Down 0.1%

AMAT stock traded down $0.24 during trading hours on Wednesday, reaching $161.59. 6,689,378 shares of the stock were exchanged, compared to its average volume of 6,902,365. The firm's 50-day moving average is $150.36 and its 200-day moving average is $164.13. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The company has a market cap of $131.28 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.81 and a beta of 1.71.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the business posted $2.09 EPS. The company's quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its Board of Directors has initiated a stock buyback plan on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is 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 dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's dividend payout ratio is currently 22.38%.

Applied Materials 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.