Signaturefd LLC Sells 579 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Signaturefd LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,814 shares of the manufacturing equipment provider’s stock after selling 579 shares during the period. Signaturefd LLC’s holdings in Applied Materials were worth $2,572,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in AMAT. FPC Investment Advisory Inc. acquired a new position in Applied Materials in the fourth quarter worth about $28,000. Crews Bank & Trust bought a new stake in shares of Applied Materials in the 4th quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Applied Materials in the 3rd quarter worth approximately $37,000. YANKCOM Partnership bought a new position in shares of Applied Materials during the 4th quarter worth approximately $32,000. Finally, Dunhill Financial LLC boosted its stake in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

AMAT opened at $155.46 on Tuesday. Applied Materials, Inc. has a 12-month low of $145.37 and a 12-month high of $255.89. The stock has a market cap of $126.30 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.81 and a beta of 1.62. The business has a 50 day moving average of $172.10 and a 200-day moving average of $178.88. 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 announced its quarterly 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 net margin of 22.95% and a return on equity of 39.50%. On average, equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

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

Applied Materials Increases Dividend

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

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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 approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

AMAT has been the subject of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Sanford C. Bernstein cut their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Mizuho reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC dropped their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, February 14th. Finally, Citigroup boosted 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

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.