Sei Investments Co. Has $43.55 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Sei Investments Co. lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 26.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 267,804 shares of the manufacturing equipment provider’s stock after selling 95,238 shares during the quarter. Sei Investments Co.’s holdings in Applied Materials were worth $43,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Applied Materials by 8.6% in the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after acquiring an additional 164,085 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Applied Materials by 62.6% in the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock valued at $343,138,000 after purchasing an additional 653,739 shares during the period. Pensionfund Sabic raised its position in Applied Materials by 38.9% during the 4th quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock worth $2,147,000 after purchasing an additional 3,700 shares during the last quarter. Brookstone Capital Management lifted its holdings in Applied Materials by 59.1% during the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock worth $7,380,000 after buying an additional 16,851 shares during the period. Finally, Advisors Management Group Inc. ADV bought a new stake in shares of Applied Materials in the 4th quarter valued at about $339,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMAT. Citigroup lifted their price objective on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research note on Friday, January 17th. Morgan Stanley reissued an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Mizuho cut 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. Finally, Sanford C. Bernstein lowered their price objective 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 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, the company has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Stock Up 1.9 %

AMAT stock opened at $154.95 on Tuesday. The firm has a market capitalization of $125.89 billion, a PE ratio of 20.25, a P/E/G ratio of 1.81 and a beta of 1.62. 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, Inc. has a twelve month low of $145.37 and a twelve month high of $255.89. The stock’s 50 day moving average is $170.00 and its 200-day moving average is $177.68.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that Applied Materials, Inc. will post 9.38 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 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.19%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Applied Materials announced that its board has approved a share 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction 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 sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.