NorthRock Partners LLC Has $2.10 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

NorthRock Partners LLC lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 311.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,939 shares of the manufacturing equipment provider’s stock after buying an additional 9,795 shares during the period. NorthRock Partners LLC’s holdings in Applied Materials were worth $2,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds 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 valued at approximately $28,000. Crews Bank & Trust acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials in the 4th quarter valued at $32,000. City Holding Co. acquired a new position in shares of Applied Materials during the 4th quarter valued at $39,000. Finally, Atala Financial Inc acquired a new position in shares of Applied Materials during the 4th quarter valued at $45,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMAT shares. Bank of America reduced their price target on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus cut 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. Barclays reduced their target price on Applied Materials from $190.00 to $160.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Friday, March 28th. Finally, Needham & Company LLC reduced their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.86.

Applied Materials Stock Performance

NASDAQ AMAT opened at $173.03 on Wednesday. The company has a fifty day moving average price of $147.95 and a 200-day moving average price of $165.68. The firm has a market cap of $140.58 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.81 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. 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 quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. As a group, equities research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials declared that its Board of Directors has authorized a share repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 450 shares of the company’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary E. Dickerson bought 50,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,716,058 shares of the company’s stock, 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. Insiders own 0.24% of the company’s stock.

Applied Materials 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.