Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Avanza Fonder AB

Avanza Fonder AB cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,117 shares of the manufacturing equipment provider’s stock after selling 7,090 shares during the period. Avanza Fonder AB’s holdings in Applied Materials were worth $11,542,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC grew its position in Applied Materials by 17.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 17,246 shares of the manufacturing equipment provider’s stock valued at $2,805,000 after buying an additional 2,536 shares in the last quarter. Eagle Capital Management LLC lifted its position in shares of Applied Materials by 1.8% in the fourth quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider’s stock worth $2,603,000 after purchasing an additional 290 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Applied Materials by 28.0% in the fourth quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider’s stock worth $2,061,000 after purchasing an additional 2,771 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Applied Materials in the fourth quarter worth approximately $15,303,000. Finally, Kingsview Wealth Management LLC increased its holdings in Applied Materials by 2.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 15,309 shares of the manufacturing equipment provider’s stock worth $2,490,000 after buying an additional 318 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 450 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value 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 approximately $880,131.91. This represents a 6.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary E. Dickerson acquired 50,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. The trade was a 3.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT opened at $169.79 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The stock has a 50 day simple moving average of $152.67 and a 200 day simple moving average of $163.07. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89. The firm has a market capitalization of $136.26 billion, a PE ratio of 22.19, a P/E/G ratio of 1.81 and a beta of 1.67.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Applied Materials’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 EPS. Sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its board 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 typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have commented on AMAT. JPMorgan Chase & Co. lowered their price target on Applied Materials from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Raymond James reiterated an “outperform” rating and set a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Applied Materials in a report on Friday, May 16th. Wall Street Zen raised Applied Materials from a “hold” rating to a “buy” rating in a report on Friday. Finally, B. Riley cut their price target on Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

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.