Flinton Capital Management LLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,071,816 shares of the manufacturing equipment provider’s stock after selling 158,814 shares during the quarter. Applied Materials accounts for approximately 1.9% of Flinton Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Flinton Capital Management LLC’s holdings in Applied Materials were worth $54,792,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new position in Applied Materials during the fourth quarter valued at $110,000. Risk Paradigm Group LLC acquired a new position in Applied Materials during the fourth quarter valued at $110,000. Cerebellum GP LLC acquired a new position in Applied Materials during the fourth quarter valued at $122,000. Zions Bancorporation lifted its position in Applied Materials by 349.1% during the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 2,049 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Applied Materials during the fourth quarter valued at $169,000. Institutional investors and hedge funds own 79.30% of the company’s stock.
Shares of Applied Materials, Inc. (AMAT) opened at $60.97 on Tuesday. Applied Materials, Inc. has a one year low of $37.41 and a one year high of $62.40. The stock has a market cap of $64,060.00, a PE ratio of 16.98, a P/E/G ratio of 1.17 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96.
Applied Materials declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.31%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s payout ratio is presently 11.14%.
In other Applied Materials news, Director Stephen R. Forrest sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total value of $214,680.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Iannotti sold 15,000 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $61.47, for a total transaction of $922,050.00. Following the completion of the transaction, the director now owns 76,967 shares in the company, valued at $4,731,161.49. The disclosure for this sale can be found here. Insiders sold a total of 322,716 shares of company stock worth $16,850,796 over the last quarter. 0.35% of the stock is currently owned by company insiders.
A number of research analysts recently issued reports on the stock. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $61.64 target price for the company in a research report on Monday, November 27th. BidaskClub upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. ValuEngine upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Deutsche Bank boosted their target price on shares of Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, Needham & Company LLC lifted their price objective on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a report on Friday, November 17th. Twenty-six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $64.10.
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Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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