Wellspring Financial Advisors LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Wellspring Financial Advisors LLC raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 47.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,737 shares of the manufacturing equipment provider’s stock after buying an additional 557 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Applied Materials were worth $282,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. FPC Investment Advisory Inc. bought a new position in shares of Applied Materials in the fourth quarter worth approximately $28,000. Crews Bank & Trust bought a new stake in shares of Applied Materials in the 4th quarter worth $28,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials during the fourth quarter valued at $32,000. Dunhill Financial LLC lifted its stake in Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares during the period. Finally, City Holding Co. purchased a new position in shares of Applied Materials during the fourth quarter valued at approximately $39,000. 80.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMAT has been the topic of several research analyst reports. Needham & Company LLC lowered their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Stifel Nicolaus lowered their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. The Goldman Sachs Group decreased their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Mizuho lowered their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company lowered their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $214.67.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 450 shares of the business’s 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 owns 6,077 shares in the company, valued at $880,131.91. The trade was a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

Applied Materials Stock Down 6.3 %

Shares of NASDAQ:AMAT opened at $126.95 on Monday. The company has a 50-day moving average price of $162.19 and a 200 day moving average price of $175.20. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $121.86 and a 12 month high of $255.89. The company has a market cap 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 (NASDAQ:AMAT) last announced 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%. As a group, equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

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

Applied Materials declared that its board has initiated a stock repurchase plan 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 buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.