Talos Asset Management LP Invests $8.98 Million in Applied Materials, Inc. (NASDAQ:AMAT)

Talos Asset Management LP acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 55,200 shares of the manufacturing equipment provider’s stock, valued at approximately $8,977,000. Applied Materials accounts for about 2.1% of Talos Asset Management LP’s holdings, making the stock its 19th biggest position.

Other large investors also recently modified their holdings of the company. EdgePoint Investment Group Inc. lifted its holdings in shares of Applied Materials by 341.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock worth $577,288,000 after purchasing an additional 2,209,218 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Applied Materials by 67.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after purchasing an additional 1,884,153 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Applied Materials in the 4th quarter worth $182,962,000. Alecta Tjanstepension Omsesidigt bought a new position in shares of Applied Materials in the 4th quarter worth $157,426,000. Finally, Flossbach Von Storch SE lifted its holdings in shares of Applied Materials by 126.6% in the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock worth $260,221,000 after purchasing an additional 893,995 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Up 0.6 %

Shares of AMAT opened at $154.46 on Thursday. The business has a 50-day moving average of $171.16 and a 200 day moving average of $178.41. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89. The firm has a market cap of $125.49 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. As a group, research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.19%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials declared that its board has authorized a share buyback plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

AMAT has been the topic of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Needham & Company LLC dropped their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Citigroup raised their price objective on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Susquehanna raised their price objective on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Stifel Nicolaus dropped their price objective on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock 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 assigned a buy rating to the company. According to data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

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.