Semanteon Capital Management LP Acquires Shares of 4,728 Applied Materials, Inc. (NASDAQ:AMAT)

Semanteon Capital Management LP acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,728 shares of the manufacturing equipment provider’s stock, valued at approximately $769,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in Applied Materials in the 4th quarter valued at $28,000. Crews Bank & Trust acquired a new position in Applied Materials in the 4th quarter valued at $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials during the 4th quarter valued at $32,000. Dunhill Financial LLC lifted its position in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares during the period. Finally, City Holding Co. bought a new stake in shares of Applied Materials during the 4th quarter valued at $39,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the firm’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 transaction of $46,807.12. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

AMAT has been the subject of a number of recent analyst reports. Barclays cut their target price 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. KeyCorp upgraded Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price for the company in a research report on Friday, January 17th. The Goldman Sachs Group cut their target price 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. Needham & Company LLC cut their target price 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. Finally, Sanford C. Bernstein cut their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. One investment 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. Based on data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Price Performance

Applied Materials stock opened at $152.12 on Friday. The company has a market capitalization of $123.59 billion, a PE ratio of 19.88, a P/E/G ratio of 1.81 and a beta of 1.62. The stock has a 50-day moving average price of $170.32 and a two-hundred day moving average price of $177.93. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89.

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

Applied Materials announced that its board has approved a stock repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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 paid a $0.46 dividend. This is a boost 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 1.21%. Applied Materials’s dividend payout ratio is presently 24.05%.

Applied Materials Company 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.