Vinva Investment Management Ltd Grows Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Vinva Investment Management Ltd raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 11.3% during the 4th quarter, HoldingsChannel reports. The firm owned 46,660 shares of the manufacturing equipment provider’s stock after acquiring an additional 4,747 shares during the quarter. Vinva Investment Management Ltd’s holdings in Applied Materials were worth $7,635,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in Applied Materials in the fourth quarter valued at about $28,000. Crews Bank & Trust purchased a new position in Applied Materials in the fourth quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the third quarter valued at about $37,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials during the fourth quarter worth about $32,000. Finally, Dunhill Financial LLC increased its position in shares of Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $153.51 on Wednesday. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89. The stock has a market cap of $124.72 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.81 and a beta of 1.62. The stock’s 50 day moving average price is $171.61 and its 200 day moving average price is $178.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping the consensus estimate 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 anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its board has authorized a stock repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.20%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is currently 24.05%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Susquehanna lifted their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a research report on Friday, January 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Mizuho dropped their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Stifel Nicolaus decreased their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

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.