Wright Investors Service Inc. Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Wright Investors Service Inc. lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,152 shares of the manufacturing equipment provider's stock after selling 2,194 shares during the period. Applied Materials comprises 1.3% of Wright Investors Service Inc.'s investment portfolio, making the stock its 24th biggest holding. Wright Investors Service Inc.'s holdings in Applied Materials were worth $3,795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. American National Bank & Trust raised its holdings in shares of Applied Materials by 2.8% in the 1st quarter. American National Bank & Trust now owns 40,536 shares of the manufacturing equipment provider's stock worth $5,883,000 after acquiring an additional 1,119 shares during the last quarter. Green Alpha Advisors LLC grew its position in Applied Materials by 95.9% in the 1st quarter. Green Alpha Advisors LLC now owns 21,948 shares of the manufacturing equipment provider's stock worth $3,185,000 after purchasing an additional 10,745 shares in the last quarter. Czech National Bank grew its position in Applied Materials by 4.5% in the 1st quarter. Czech National Bank now owns 186,766 shares of the manufacturing equipment provider's stock worth $27,103,000 after purchasing an additional 8,018 shares in the last quarter. JGP Wealth Management LLC grew its position in Applied Materials by 3.4% in the 1st quarter. JGP Wealth Management LLC now owns 2,916 shares of the manufacturing equipment provider's stock worth $423,000 after purchasing an additional 95 shares in the last quarter. Finally, Mirador Capital Partners LP grew its position in Applied Materials by 46.4% in the 1st quarter. Mirador Capital Partners LP now owns 3,002 shares of the manufacturing equipment provider's stock worth $436,000 after purchasing an additional 952 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Insider Activity

In other news, CAO Adam Sanders sold 450 shares of the business'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 completion of the transaction, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at $880,131.91. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary E. Dickerson acquired 50,000 shares of the firm's stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 1,716,058 shares of the company's stock, valued at $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. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMAT has been the subject of a number of research reports. Edward Jones raised shares of Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Barclays lowered 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 research report on Tuesday, April 22nd. TD Cowen lowered their price objective on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus lowered their price objective on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price objective on the stock in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and a consensus price target of $199.48.

Applied Materials Trading Up 1.8%

Shares of AMAT traded up $2.98 during trading hours on Thursday, reaching $164.91. 3,697,190 shares of the company traded hands, compared to its average volume of 6,935,065. The company's fifty day moving average price is $151.42 and its two-hundred day moving average price is $163.31. The company has a market capitalization of $132.34 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.81 and a beta of 1.71. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. The firm 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 company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 EPS. Equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

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.