Founders Capital Management Buys 15,587 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Founders Capital Management lifted its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 1,177.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,911 shares of the manufacturing equipment provider's stock after buying an additional 15,587 shares during the quarter. Applied Materials comprises approximately 1.6% of Founders Capital Management's holdings, making the stock its 19th largest position. Founders Capital Management's holdings in Applied Materials were worth $2,454,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the 4th quarter valued at $28,000. Crews Bank & Trust bought a new stake in Applied Materials in the 4th quarter valued at $28,000. YANKCOM Partnership bought a new stake in Applied Materials in the 4th quarter valued at $32,000. Mascagni Wealth Management Inc. bought a new stake in Applied Materials in the 4th quarter valued at $44,000. Finally, Atala Financial Inc bought a new stake in Applied Materials in the 4th quarter valued at $45,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Trading Up 1.7%

Shares of NASDAQ:AMAT traded up $2.82 during mid-day trading on Thursday, reaching $164.75. The stock had a trading volume of 2,152,618 shares, compared to its average volume of 6,929,567. The firm has a market cap of $132.21 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.81 and a beta of 1.71. The firm has a 50 day simple moving average of $151.42 and a two-hundred day simple moving average of $163.31. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion for 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 business's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $2.09 EPS. On average, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials declared that its board has approved a share buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMAT shares. B. Riley lowered their target price on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Barclays decreased their price objective on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Edward Jones raised shares of Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Wells Fargo & Company reissued a "mixed" rating on shares of Applied Materials in a report on Friday, May 16th. Finally, TD Cowen decreased their price objective on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.48.

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.