UniSuper Management Pty Ltd Sells 138,476 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

UniSuper Management Pty Ltd lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 26.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,192 shares of the manufacturing equipment provider’s stock after selling 138,476 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Applied Materials were worth $61,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in Applied Materials during 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. YANKCOM Partnership bought a new position in shares of Applied Materials during the 4th quarter valued at approximately $32,000. Dunhill Financial LLC increased its stake in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. Finally, City Holding Co. bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMAT shares. Wells Fargo & Company reduced their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Mizuho decreased 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, January 10th. The Goldman Sachs Group lowered their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Stifel Nicolaus cut their target price on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Price Performance

Applied Materials stock opened at $150.68 on Thursday. The stock has a market cap of $122.42 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.81 and a beta of 1.62. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $169.05 and a 200 day simple moving average of $177.34. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data 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%. On average, research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal 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 given a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.22%. This is a boost 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 of Directors has approved a stock repurchase plan 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 plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm’s 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 sale, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by insiders.

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.