Delphi Management Inc. MA Raises Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Delphi Management Inc. MA increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 16.8% in the 4th quarter, HoldingsChannel reports. The fund owned 7,305 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,052 shares during the quarter. Delphi Management Inc. MA’s holdings in Applied Materials were worth $1,188,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Applied Materials in the fourth quarter worth approximately $28,000. FPC Investment Advisory Inc. purchased a new position in Applied Materials in the fourth quarter worth approximately $28,000. YANKCOM Partnership purchased a new position in Applied Materials in the fourth quarter worth approximately $32,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the third quarter worth approximately $37,000. Finally, City Holding Co. purchased a new position in shares of Applied Materials during the fourth quarter worth $39,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

Shares of AMAT stock opened at $155.46 on Tuesday. The stock’s 50-day moving average is $172.10 and its two-hundred day moving average is $178.88. The firm has a market cap of $126.30 billion, a price-to-earnings ratio of 20.32, a PEG 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. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (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%. Analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials declared that its board has initiated a share buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The company 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 dividend of $0.46 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Insiders Place Their Bets

In related 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 transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, 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 filing with the SEC, which is available through this link. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC lowered their price target on 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 restated an “underweight” rating and set a $164.00 price target (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Susquehanna raised their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays lowered their price target on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Finally, The Goldman Sachs Group lowered their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Applied Materials presently 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.