Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Wealth Management Partners LLC

Wealth Management Partners LLC boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.8% during the first quarter, HoldingsChannel reports. The fund owned 10,567 shares of the manufacturing equipment provider’s stock after buying an additional 481 shares during the period. Wealth Management Partners LLC’s holdings in Applied Materials were worth $1,533,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AMAT. FPC Investment Advisory Inc. acquired a new position in Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the fourth quarter worth $32,000. Mascagni Wealth Management Inc. acquired a new position in Applied Materials during the fourth quarter worth $44,000. Atala Financial Inc acquired a new position in Applied Materials during the fourth quarter worth $45,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Applied Materials during the fourth quarter worth $46,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMAT has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on Applied Materials from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Raymond James reiterated an “outperform” rating and issued a $200.00 price objective (down from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Cantor Fitzgerald reduced their price objective on Applied Materials from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Jefferies Financial Group upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a research note on Friday, March 28th. Finally, Barclays reduced their price objective on Applied Materials from $190.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.48.

Applied Materials Stock Performance

Shares of AMAT stock opened at $161.93 on Thursday. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89. The firm has a market cap of $129.95 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.81 and a beta of 1.71. The stock’s 50-day moving average is $151.42 and its two-hundred day moving average is $163.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

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

Insider Activity at Applied Materials

In other Applied Materials news, CEO Gary E. Dickerson acquired 50,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Adam Sanders sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the transaction, the chief accounting officer now directly owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. This trade represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

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.