19,233 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Bought by Strategic Global Advisors LLC

Strategic Global Advisors LLC acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 19,233 shares of the manufacturing equipment provider's stock, valued at approximately $3,128,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skye Global Management LP acquired a new stake in Applied Materials during the fourth quarter worth approximately $45,862,000. Shell Asset Management Co. boosted its position in Applied Materials by 1.3% in the fourth quarter. Shell Asset Management Co. now owns 45,351 shares of the manufacturing equipment provider's stock worth $7,375,000 after purchasing an additional 583 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Applied Materials during the 4th quarter valued at approximately $1,899,000. Silvercrest Asset Management Group LLC raised its stake in Applied Materials by 2,187.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 110,347 shares of the manufacturing equipment provider's stock valued at $17,946,000 after acquiring an additional 105,523 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Applied Materials by 22.9% in the fourth quarter. Royal Bank of Canada now owns 3,636,546 shares of the manufacturing equipment provider's stock worth $591,412,000 after acquiring an additional 678,510 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. B. Riley cut their price target on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Cantor Fitzgerald reduced their price target on shares of Applied Materials from $220.00 to $200.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a research note on Friday, May 16th. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price for the company in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.48.

Insider Transactions at Applied Materials

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were purchased at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the transaction, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Adam Sanders sold 450 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly 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.

Applied Materials Stock Down 2.5%

NASDAQ:AMAT traded down $4.00 during mid-day trading on Friday, reaching $156.53. The stock had a trading volume of 2,497,881 shares, compared to its average volume of 7,487,617. 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 capitalization of $127.17 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.81 and a beta of 1.71. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89. The stock's 50 day simple moving average is $150.07 and its two-hundred day simple moving average is $164.96.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly 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. 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 for the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the firm posted $2.09 EPS. The company's revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.18%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials's dividend payout ratio is 22.38%.

Applied Materials announced that its Board of Directors has initiated a stock buyback plan on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Applied Materials Company 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.