Teamwork Financial Advisors LLC Has $1.35 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Teamwork Financial Advisors LLC lowered its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 30.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,280 shares of the manufacturing equipment provider's stock after selling 3,979 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Applied Materials were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AMAT. LaFleur & Godfrey LLC lifted its stake in shares of Applied Materials by 17.2% during the fourth quarter. LaFleur & Godfrey LLC now owns 17,246 shares of the manufacturing equipment provider's stock worth $2,805,000 after purchasing an additional 2,536 shares in the last quarter. Eagle Capital Management LLC lifted its position in Applied Materials by 1.8% during the 4th quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider's stock worth $2,603,000 after acquiring an additional 290 shares in the last quarter. Brighton Jones LLC boosted its holdings in Applied Materials by 28.0% in the 4th quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider's stock worth $2,061,000 after acquiring an additional 2,771 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Applied Materials in the fourth quarter valued at approximately $15,303,000. Finally, DAVENPORT & Co LLC raised its stake in shares of Applied Materials by 0.4% during the fourth quarter. DAVENPORT & Co LLC now owns 37,990 shares of the manufacturing equipment provider's stock valued at $6,178,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

Shares of AMAT traded up $2.26 during mid-day trading on Thursday, reaching $164.19. 7,337,335 shares of the company's stock traded hands, compared to its average volume of 6,949,034. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The stock has a market capitalization of $131.76 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.81 and a beta of 1.71. The business's 50-day moving average price is $151.42 and its 200-day moving average price 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 - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $2.09 earnings per share. Equities analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Applied Materials

In other news, CAO Adam Sanders sold 450 shares of the 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 owns 6,077 shares in the company, valued at approximately $880,131.91. This represents a 6.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary E. Dickerson bought 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, 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. The trade was a 3.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

AMAT has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. TD Cowen reduced their price target on Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 16th. B. Riley cut their price target 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 cut 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price target on shares of Applied Materials in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.