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

Delphi Management Inc. MA grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,305 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,052 shares during the period. Delphi Management Inc. MA’s holdings in Applied Materials were worth $1,188,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in Applied Materials during the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Applied Materials in the 4th quarter valued at $28,000. YANKCOM Partnership purchased a new position in shares of Applied Materials during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in Applied Materials during the third quarter valued at $37,000. Finally, City Holding Co. purchased a new stake in Applied Materials in the fourth quarter valued at $39,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $155.46 on Tuesday. The business has a 50 day simple moving average of $172.10 and a two-hundred day simple moving average of $178.88. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89. The stock has a market capitalization of $126.30 billion, a P/E ratio of 20.32, a PEG 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.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. As a group, analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.18%. Applied Materials’s dividend payout ratio is 24.05%.

Applied Materials announced that its board has initiated a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a report on Friday, January 17th. 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 report on Friday, February 14th. Morgan Stanley restated an “underweight” rating and issued a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group decreased their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.24% of the company’s stock.

About Applied Materials

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.