Applied Materials, Inc. (NASDAQ:AMAT) Position Increased by Cibc World Markets Corp

Cibc World Markets Corp raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 68.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,960 shares of the manufacturing equipment provider’s stock after buying an additional 89,514 shares during the quarter. Cibc World Markets Corp’s holdings in Applied Materials were worth $35,772,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of Applied Materials in the fourth quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new stake in Applied Materials in the 4th quarter worth about $28,000. YANKCOM Partnership purchased a new stake in Applied Materials in the 4th quarter worth about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials in the 3rd quarter worth about $37,000. Finally, City Holding Co. purchased a new stake in Applied Materials in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMAT shares. Wells Fargo & Company reduced their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Needham & Company LLC cut their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Morgan Stanley reiterated an “underweight” rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Sanford C. Bernstein cut their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Finally, Citigroup increased their price objective on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.38.

Insider Transactions at Applied Materials

In related 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 completion of the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

Applied Materials Trading Up 3.8 %

Applied Materials stock opened at $155.66 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The business’s 50-day simple moving average is $172.54 and its 200-day simple moving average is $179.15. The firm has a market capitalization of $126.46 billion, a PE ratio of 20.35, a PEG ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. Applied Materials’s payout ratio is presently 24.05%.

Applied Materials declared that its Board of Directors has initiated a share repurchase plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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.