Aigen Investment Management LP Invests $4.88 Million in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Aigen Investment Management LP acquired 33,626 shares of Applied Materials, valued at approximately $4.88 million, making it the company's 7th largest investment.
• Applied Materials announced a quarterly dividend of $0.46, set to be paid on September 11, yielding an annualized amount of $1.84 with a payout ratio of 22.38%.
• The company reported an earnings per share of $2.39 for the last quarter, surpassing estimates by $0.08, and its revenue was up 6.8% year-over-year.

Aigen Investment Management LP acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 33,626 shares of the manufacturing equipment provider's stock, valued at approximately $4,880,000. Applied Materials accounts for approximately 0.8% of Aigen Investment Management LP's holdings, making the stock its 7th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Coronation Fund Managers Ltd. purchased a new stake in shares of Applied Materials during the 1st quarter worth $49,381,000. American Alpha Advisors LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth $388,000. Entropy Technologies LP purchased a new stake in shares of Applied Materials in the 1st quarter worth about $7,404,000. True North Advisors LLC boosted its position in shares of Applied Materials by 15.3% in the 1st quarter. True North Advisors LLC now owns 1,530 shares of the manufacturing equipment provider's stock worth $222,000 after buying an additional 203 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Applied Materials by 18.2% in the 1st quarter. Covestor Ltd now owns 876 shares of the manufacturing equipment provider's stock worth $127,000 after buying an additional 135 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Down 0.3%

AMAT traded down $0.49 on Monday, reaching $184.38. 7,813,506 shares of the company's stock were exchanged, compared to its average volume of 7,234,765. The company's 50 day moving average is $182.16 and its 200-day moving average is $166.39. The company has a market cap of $147.96 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.06 and a beta of 1.70. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $215.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company's revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. Equities analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 1.0%. Applied Materials's dividend payout ratio (DPR) is 22.38%.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares of the company's stock, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

AMAT has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price objective on shares of Applied Materials in a research report on Friday, May 16th. Bank of America reduced their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Raymond James Financial restated an "outperform" rating and issued a $200.00 target price (down from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Morgan Stanley upped their target price on shares of Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Barclays upped their target price on shares of Applied Materials from $160.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $204.09.

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.