Teacher Retirement System of Texas Grows Position in Applied Materials, Inc. (NASDAQ:AMAT)

Teacher Retirement System of Texas increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 29.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 588,492 shares of the manufacturing equipment provider’s stock after purchasing an additional 133,740 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Applied Materials worth $95,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Generali Investments Management Co LLC purchased a new position in shares of Applied Materials in the 4th quarter valued at approximately $2,394,000. Harvest Fund Management Co. Ltd increased its position in Applied Materials by 14.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 58,955 shares of the manufacturing equipment provider’s stock valued at $9,550,000 after buying an additional 7,627 shares in the last quarter. Vinva Investment Management Ltd increased its position in Applied Materials by 11.3% during the 4th quarter. Vinva Investment Management Ltd now owns 46,660 shares of the manufacturing equipment provider’s stock valued at $7,635,000 after buying an additional 4,747 shares in the last quarter. Brooklyn FI LLC bought a new position in Applied Materials during the 4th quarter valued at approximately $656,000. Finally, Xponance Inc. increased its position in Applied Materials by 0.4% during the 4th quarter. Xponance Inc. now owns 197,490 shares of the manufacturing equipment provider’s stock valued at $32,118,000 after buying an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

NASDAQ AMAT opened at $154.46 on Thursday. The company has a market capitalization of $125.49 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The business’s fifty day moving average is $171.16 and its 200 day moving average is $178.41. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89.

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

Applied Materials Increases Dividend

The firm also recently disclosed 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. This represents a $1.84 annualized dividend and a dividend yield of 1.19%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s payout ratio is presently 24.05%.

Applied Materials announced that its board has approved a share repurchase program on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMAT shares. The Goldman Sachs Group reduced their price objective 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. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Needham & Company LLC reduced their price objective 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. Wells Fargo & Company reduced their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Citigroup lifted their target price on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Applied Materials currently has an average 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 business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

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.