Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC cut its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 40.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,426 shares of the manufacturing equipment provider's stock after selling 13,048 shares during the period. Annex Advisory Services LLC's holdings in Applied Materials were worth $2,819,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new position in Applied Materials during the 4th quarter worth $28,000. YANKCOM Partnership acquired a new stake in shares of Applied Materials in the 4th quarter worth $32,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Applied Materials during the fourth quarter worth about $44,000. Atala Financial Inc acquired a new position in Applied Materials during the 4th quarter valued at approximately $45,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Applied Materials in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Insider Activity at Applied Materials

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were bought 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 owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. This represents a 3.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam Sanders sold 450 shares of the business's stock in a transaction dated 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 owns 6,077 shares in the company, 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 currently owned by corporate insiders.

Applied Materials Trading Up 1.6%

Shares of NASDAQ:AMAT traded up $2.55 during mid-day trading on Friday, reaching $166.74. 5,678,527 shares of the company were exchanged, compared to its average volume of 6,940,391. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm has a market cap of $133.81 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 1.81 and a beta of 1.71. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89. The firm's 50-day simple moving average is $151.80 and its 200 day simple moving average is $163.26.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 earnings per share. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has authorized a stock repurchase program on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several recent research reports. Mizuho lowered their price target on shares of Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Bank of America reduced their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a research report on Friday, May 16th. Raymond James reaffirmed an "outperform" rating and set a $200.00 price objective (down previously from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Finally, Barclays decreased their target price on shares of 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. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.29.

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.