Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Wynn Capital LLC

Wynn Capital LLC grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,105 shares of the manufacturing equipment provider’s stock after purchasing an additional 162 shares during the period. Wynn Capital LLC’s holdings in Applied Materials were worth $1,176,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMAT. Mezzasalma Advisors LLC lifted its holdings in shares of Applied Materials by 3.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock worth $335,000 after purchasing an additional 60 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Applied Materials by 1.7% in the 4th quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider’s stock worth $607,000 after purchasing an additional 62 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in shares of Applied Materials by 3.5% in the 4th quarter. Valmark Advisers Inc. now owns 1,862 shares of the manufacturing equipment provider’s stock worth $303,000 after purchasing an additional 63 shares during the last quarter. Hills Bank & Trust Co lifted its holdings in shares of Applied Materials by 6.6% in the 4th quarter. Hills Bank & Trust Co now owns 1,061 shares of the manufacturing equipment provider’s stock worth $173,000 after purchasing an additional 66 shares during the last quarter. Finally, Consolidated Portfolio Review Corp lifted its holdings in shares of Applied Materials by 2.0% in the 4th quarter. Consolidated Portfolio Review Corp now owns 3,455 shares of the manufacturing equipment provider’s stock worth $562,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on AMAT shares. Raymond James reaffirmed an “outperform” rating and set a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Wall Street Zen raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Friday. Cantor Fitzgerald cut their target price on Applied Materials from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Applied Materials in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.29.

Applied Materials Stock Up 1.6%

Shares of AMAT stock opened at $166.74 on Friday. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89. The stock has a market cap of $133.81 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.67. The business’s fifty day moving average is $152.23 and its 200-day moving average is $163.19. 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) last issued its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 EPS. Equities analysts expect 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 stock buyback program on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Gary E. Dickerson bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction 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 transaction, the chief accounting officer now owns 6,077 shares in the company, valued at $880,131.91. The trade was a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.