Thoroughbred Financial Services LLC Trims Position in Applied Materials, Inc. (NASDAQ:AMAT)

Thoroughbred Financial Services LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,231 shares of the manufacturing equipment provider’s stock after selling 914 shares during the period. Thoroughbred Financial Services LLC’s holdings in Applied Materials were worth $2,639,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AMAT. Bornite Capital Management LP increased its stake in shares of Applied Materials by 100.0% during the 4th quarter. Bornite Capital Management LP now owns 100,000 shares of the manufacturing equipment provider’s stock valued at $16,263,000 after acquiring an additional 50,000 shares during the last quarter. Pitcairn Co. raised its stake in Applied Materials by 1.5% during the fourth quarter. Pitcairn Co. now owns 7,968 shares of the manufacturing equipment provider’s stock worth $1,296,000 after purchasing an additional 121 shares during the period. Grant Private Wealth Management Inc acquired a new position in shares of Applied Materials in the 4th quarter valued at $392,000. Arete Wealth Advisors LLC grew its stake in shares of Applied Materials by 14.8% during the 4th quarter. Arete Wealth Advisors LLC now owns 8,228 shares of the manufacturing equipment provider’s stock valued at $1,342,000 after buying an additional 1,063 shares during the period. Finally, World Investment Advisors increased its holdings in shares of Applied Materials by 171.5% during the 4th quarter. World Investment Advisors now owns 26,733 shares of the manufacturing equipment provider’s stock worth $4,348,000 after buying an additional 16,888 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Transactions at Applied Materials

In other 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 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 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 can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock opened at $126.95 on Friday. The stock has a market capitalization of $103.14 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a one year low of $123.94 and a one year high of $255.89. The company’s 50-day simple moving average is $162.19 and its 200-day simple moving average is $175.37. 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 released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Equities analysts anticipate 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 authorized a stock buyback program on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio is 24.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMAT shares. Stifel Nicolaus lowered their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Jefferies Financial Group raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research report on Friday, March 28th. Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group decreased their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $214.67.

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.