Fourpath Capital Management LLC Has $1.39 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Fourpath Capital Management LLC grew its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,566 shares of the manufacturing equipment provider’s stock after purchasing an additional 73 shares during the period. Fourpath Capital Management LLC’s holdings in Applied Materials were worth $1,388,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new position in Applied Materials in the fourth quarter worth approximately $28,000. Mascagni Wealth Management Inc. acquired a new position in Applied Materials in the fourth quarter worth approximately $44,000. Atala Financial Inc acquired a new position in Applied Materials in the fourth quarter worth approximately $45,000. Minot DeBlois Advisors LLC acquired a new position in Applied Materials in the fourth quarter worth approximately $46,000. Finally, Centricity Wealth Management LLC acquired a new position in Applied Materials in the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Up 1.8%

AMAT opened at $169.79 on Tuesday. The business has a 50 day moving average of $152.67 and a 200-day moving average of $163.07. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $136.26 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 1.81 and a beta of 1.67. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results 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 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 revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials declared that its board has initiated a stock 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 repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Applied Materials

In other Applied Materials 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 transaction, the chief accounting officer now directly owns 6,077 shares in the company, valued at $880,131.91. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary E. Dickerson acquired 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, with a total value of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares of the company’s stock, valued at approximately $235,614,763.40. This represents 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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on AMAT. Raymond James restated an “outperform” rating and issued a $200.00 price objective (down previously from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Cantor Fitzgerald dropped their price objective on Applied Materials from $220.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, May 12th. Wells Fargo & Company restated a “mixed” rating on shares of Applied Materials in a report on Friday, May 16th. TD Cowen decreased their target price on Applied Materials from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Applied Materials in a research report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.