Kentucky Retirement Systems Insurance Trust Fund Grows Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 74.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,644 shares of the manufacturing equipment provider’s stock after purchasing an additional 18,130 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Applied Materials were worth $6,935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in Applied Materials during the 4th quarter valued at about $28,000. YANKCOM Partnership purchased a new position in Applied Materials during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials during the 3rd quarter worth approximately $37,000. DT Investment Partners LLC boosted its holdings in shares of Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials in the fourth quarter worth $39,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMAT shares. Mizuho decreased their target price on shares of 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 lowered their target price on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company dropped their target price on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Evercore ISI decreased their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.10.

Applied Materials Stock Down 8.2 %

NASDAQ AMAT opened at $169.20 on Tuesday. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The business has a fifty day moving average price of $175.36 and a 200 day moving average price of $184.31. The company has a market cap of $137.51 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.86 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Applied Materials’s dividend payout ratio is presently 18.58%.

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.