Twin Capital Management Inc. Has $2.64 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Twin Capital Management Inc. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,212 shares of the manufacturing equipment provider’s stock after selling 311 shares during the period. Twin Capital Management Inc.’s holdings in Applied Materials were worth $2,637,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bristol Gate Capital Partners Inc. increased its stake in shares of Applied Materials by 0.8% in the fourth quarter. Bristol Gate Capital Partners Inc. now owns 383,628 shares of the manufacturing equipment provider’s stock worth $62,389,000 after acquiring an additional 3,108 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in Applied Materials in the 4th quarter worth about $559,000. Wellspring Financial Advisors LLC increased its position in Applied Materials by 47.2% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,737 shares of the manufacturing equipment provider’s stock worth $282,000 after purchasing an additional 557 shares during the last quarter. Trek Financial LLC lifted its holdings in shares of Applied Materials by 24.6% during the 4th quarter. Trek Financial LLC now owns 2,535 shares of the manufacturing equipment provider’s stock valued at $412,000 after buying an additional 500 shares during the last quarter. Finally, Polymer Capital Management HK LTD grew its stake in shares of Applied Materials by 221.1% in the 4th quarter. Polymer Capital Management HK LTD now owns 8,200 shares of the manufacturing equipment provider’s stock valued at $1,334,000 after buying an additional 5,646 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMAT has been the topic of several recent research reports. KeyCorp raised shares of 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. Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. The Goldman Sachs Group cut their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Susquehanna upped their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Citigroup raised their price objective on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $214.67.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 450 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the completion of the transaction, the chief accounting officer now directly owns 6,077 shares in the company, valued at approximately $880,131.91. This trade represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Applied Materials Stock Down 6.3 %

Shares of Applied Materials stock opened at $126.95 on Monday. The stock has a market cap of $103.14 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a 12 month low of $121.86 and a 12 month high of $255.89. The business has a fifty day simple moving average of $162.19 and a 200 day simple moving average of $175.20. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

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, beating 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%. Research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The company also recently announced 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 represents a $1.84 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is 24.05%.

Applied Materials declared that its Board of Directors has approved a stock repurchase plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

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.