Capital Investment Advisors LLC Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Capital Investment Advisors LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 66.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,195 shares of the manufacturing equipment provider's stock after acquiring an additional 13,677 shares during the period. Capital Investment Advisors LLC's holdings in Applied Materials were worth $4,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in Applied Materials during the 4th quarter worth $28,000. Mascagni Wealth Management Inc. bought a new position in shares of Applied Materials during the fourth quarter worth about $44,000. Atala Financial Inc acquired a new position in Applied Materials in the fourth quarter worth about $45,000. Minot DeBlois Advisors LLC acquired a new position in Applied Materials in the fourth quarter worth about $46,000. Finally, Centricity Wealth Management LLC bought a new stake in Applied Materials in the fourth quarter valued at about $47,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Adam Sanders sold 450 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary E. Dickerson purchased 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the transaction, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.

Applied Materials Trading Up 1.6%

Shares of AMAT stock opened at $166.74 on Monday. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89. The firm has a market capitalization of $133.81 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.67. The stock has a fifty day moving average of $152.23 and a two-hundred day moving average of $163.11. 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 - Get Free Report) last posted 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. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 earnings per share. As a group, research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its Board of Directors has approved a stock buyback plan on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. 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. Citigroup boosted 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. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a research report on Friday, May 16th. Finally, TD Cowen decreased their price target on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials has an average rating of "Moderate Buy" and a consensus target price 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.

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