LaFleur & Godfrey LLC Has $2.89 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

LaFleur & Godfrey LLC lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 15.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,933 shares of the manufacturing equipment provider's stock after buying an additional 2,687 shares during the period. LaFleur & Godfrey LLC's holdings in Applied Materials were worth $2,893,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMAT. Runnymede Capital Advisors Inc. boosted its position in Applied Materials by 972.2% during the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Applied Materials during the 4th quarter worth approximately $44,000. Atala Financial Inc acquired a new stake in shares of Applied Materials in the 4th quarter valued at approximately $45,000. Minot DeBlois Advisors LLC bought a new position in shares of Applied Materials in the fourth quarter valued at $46,000. Finally, Noble Wealth Management PBC acquired a new position in Applied Materials during the fourth quarter worth $48,000. Institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

Shares of AMAT traded up $2.89 during midday trading on Wednesday, reaching $183.07. 5,425,035 shares of the stock were exchanged, compared to its average volume of 7,003,507. The stock's 50 day simple moving average is $160.35 and its 200 day simple moving average is $163.00. The company has a market cap of $146.91 billion, a P/E ratio of 22.27, a PEG ratio of 1.91 and a beta of 1.67. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data 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 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the previous year, the company earned $2.09 EPS. The business's revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio is currently 22.38%.

Applied Materials announced that its Board of Directors has authorized a share buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Citigroup raised their target price on shares of Applied Materials from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 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, Mizuho reduced their target price on Applied Materials from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $200.24.

Insiders Place Their Bets

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

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.