EFG Asset Management North America Corp. Raises Position in Applied Materials, Inc. (NASDAQ:AMAT)

EFG Asset Management North America Corp. lifted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 70.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,621 shares of the manufacturing equipment provider’s stock after buying an additional 9,375 shares during the period. EFG Asset Management North America Corp.’s holdings in Applied Materials were worth $3,680,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Modern Wealth Management LLC boosted its stake in Applied Materials by 166.1% during the fourth quarter. Modern Wealth Management LLC now owns 8,013 shares of the manufacturing equipment provider’s stock worth $1,303,000 after buying an additional 5,002 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Applied Materials in the 4th quarter worth about $356,000. Twin City Private Wealth LLC bought a new stake in shares of Applied Materials in the 4th quarter worth about $459,000. Vanguard Group Inc. boosted its stake in shares of Applied Materials by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 77,039,667 shares of the manufacturing equipment provider’s stock worth $12,528,961,000 after purchasing an additional 487,358 shares during the period. Finally, Stevens Capital Management LP grew its holdings in Applied Materials by 225.5% during the 4th quarter. Stevens Capital Management LP now owns 4,287 shares of the manufacturing equipment provider’s stock valued at $697,000 after purchasing an additional 2,970 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Insider Buying and Selling at Applied Materials

In related 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 value of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock opened at $154.95 on Tuesday. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year high of $255.89. The firm has a market capitalization of $125.89 billion, a price-to-earnings ratio of 20.25, 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 current ratio of 2.67 and a quick ratio of 1.96. The business has a fifty day moving average of $170.00 and a 200 day moving average of $177.68.

Applied Materials (NASDAQ:AMAT) last posted its quarterly 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%. As a group, research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials declared that its board has authorized a share buyback 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 purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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 given a dividend of $0.46 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Mizuho dropped their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Needham & Company LLC decreased their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research report on Friday, January 17th. 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. Finally, Wells Fargo & Company cut their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.