Cache Advisors LLC Takes $2.79 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Cache Advisors LLC acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,147 shares of the manufacturing equipment provider's stock, valued at approximately $2,789,000. Applied Materials makes up about 1.0% of Cache Advisors LLC's portfolio, making the stock its 21st largest holding.

Several other large investors also recently made changes to their positions in AMAT. Rheos Capital Works Inc. grew its position in Applied Materials by 2.7% in the fourth quarter. Rheos Capital Works Inc. now owns 170,100 shares of the manufacturing equipment provider's stock valued at $27,663,000 after purchasing an additional 4,500 shares in the last quarter. Jacobi Capital Management LLC grew its position in Applied Materials by 51.2% in the fourth quarter. Jacobi Capital Management LLC now owns 18,785 shares of the manufacturing equipment provider's stock valued at $3,055,000 after purchasing an additional 6,364 shares in the last quarter. Skye Global Management LP bought a new position in shares of Applied Materials in the 4th quarter valued at about $45,862,000. Cable Hill Partners LLC grew its position in shares of Applied Materials by 10.2% in the 4th quarter. Cable Hill Partners LLC now owns 3,485 shares of the manufacturing equipment provider's stock valued at $567,000 after acquiring an additional 322 shares during the period. Finally, CX Institutional grew its position in shares of Applied Materials by 49.9% in the 4th quarter. CX Institutional now owns 31,404 shares of the manufacturing equipment provider's stock valued at $5,107,000 after acquiring an additional 10,459 shares during the period. Institutional investors own 80.56% of the company's stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT traded up $4.32 during midday trading on Tuesday, hitting $161.83. The stock had a trading volume of 8,465,092 shares, compared to its average volume of 6,903,186. The company's 50-day moving average price is $150.21 and its 200-day moving average price is $164.15. The company has a market capitalization of $131.48 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 1.81 and a beta of 1.71. 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, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. As a group, 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 approved a share buyback plan 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 repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. 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 dividend yield of 1.14%. Applied Materials's payout ratio is presently 22.38%.

Insider Activity

In related news, CEO Gary E. Dickerson purchased 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. This trade represents a 3.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction that occurred on Tuesday, April 1st. The shares were 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. This trade represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

Analyst Ratings Changes

AMAT has been the subject of a number of analyst reports. Edward Jones raised shares of Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Citigroup lifted their target price on shares of Applied Materials from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Mizuho reduced their target price on shares of Applied Materials from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Cantor Fitzgerald reduced their target price on shares of Applied Materials from $220.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $199.48.

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.