Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Takes Position in Applied Materials, Inc. (NASDAQ:AMAT)

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new position in Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,370 shares of the manufacturing equipment provider’s stock, valued at approximately $2,985,000.

Several other large investors have also recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new stake in shares of Applied Materials during the 4th quarter worth $28,000. Crews Bank & Trust purchased a new position in shares of Applied Materials in the fourth quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials during the third quarter worth approximately $37,000. YANKCOM Partnership purchased a new position in Applied Materials during the fourth quarter worth approximately $32,000. Finally, Dunhill Financial LLC increased its stake in 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. Institutional investors own 80.56% of the company’s stock.

Insider Activity

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 transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMAT shares. Sanford C. Bernstein dropped their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, November 15th. Barclays dropped their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, Morgan Stanley restated an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $146.99 on Wednesday. The stock’s 50-day moving average is $173.37 and its 200-day moving average is $180.06. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $119.42 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 1-year low of $145.37 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 year.

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

Applied Materials Increases Dividend

The firm also recently disclosed 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 is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.25%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is 20.92%.

About Applied Materials

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.