Aigen Investment Management LP Trims Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Aigen Investment Management LP reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 52.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,769 shares of the manufacturing equipment provider’s stock after selling 3,093 shares during the quarter. Aigen Investment Management LP’s holdings in Applied Materials were worth $449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth about $27,000. Global Wealth Management Investment Advisory Inc. lifted its stake in Applied Materials by 76.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. L2 Asset Management LLC boosted its holdings in shares of Applied Materials by 795.0% in the third quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock valued at $41,000 after acquiring an additional 26,298 shares during the period. First United Bank & Trust purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $45,000. Finally, Tompkins Financial Corp acquired a new position in shares of Applied Materials in the 4th quarter valued at $49,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Up 0.6 %

Shares of NASDAQ AMAT opened at $219.34 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The firm’s 50-day moving average is $205.99 and its two-hundred day moving average is $181.10. Applied Materials, Inc. has a 12-month low of $126.13 and a 12-month high of $225.07. The company has a market capitalization of $182.25 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.85 and a beta of 1.58.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. Applied Materials’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 8.32 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.73%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s dividend payout ratio is 18.39%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMAT. Jefferies Financial Group downgraded shares of Applied Materials from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $215.00 to $210.00 in a research report on Monday, May 13th. JPMorgan Chase & Co. increased their price objective on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. B. Riley lifted their target price on Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 17th. The Goldman Sachs Group upped their price target on Applied Materials from $156.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Mizuho boosted their price objective on shares of Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned 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 $215.64.

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.