Horizon Investment Services LLC Reduces Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Horizon Investment Services LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,949 shares of the manufacturing equipment provider's stock after selling 2,267 shares during the quarter. Applied Materials accounts for approximately 2.5% of Horizon Investment Services LLC's investment portfolio, making the stock its 9th largest position. Horizon Investment Services LLC's holdings in Applied Materials were worth $5,847,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMAT. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Applied Materials during the third quarter valued at approximately $319,000. Fiduciary Trust Co raised its holdings in shares of Applied Materials by 14.6% during the 3rd quarter. Fiduciary Trust Co now owns 6,797 shares of the manufacturing equipment provider's stock worth $1,373,000 after buying an additional 865 shares in the last quarter. Alkeon Capital Management LLC lifted its position in shares of Applied Materials by 87.7% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,877,133 shares of the manufacturing equipment provider's stock worth $379,275,000 after buying an additional 877,133 shares during the last quarter. Martingale Asset Management L P boosted its stake in Applied Materials by 1.3% in the third quarter. Martingale Asset Management L P now owns 57,229 shares of the manufacturing equipment provider's stock valued at $11,563,000 after buying an additional 738 shares in the last quarter. Finally, Centric Wealth Management grew its position in Applied Materials by 3.1% in the third quarter. Centric Wealth Management now owns 19,113 shares of the manufacturing equipment provider's stock valued at $3,584,000 after acquiring an additional 574 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMAT. Morgan Stanley reissued an "underweight" rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Wells Fargo & Company cut their target price on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Needham & Company LLC lowered their price target on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a report on Friday, February 14th. Mizuho dropped their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Finally, The Goldman Sachs Group reduced their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.67.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the sale, the chief accounting officer now directly owns 6,479 shares of the company's stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company's stock.

Applied Materials Trading Down 0.0 %

Shares of Applied Materials stock traded down $0.05 on Monday, hitting $145.01. 3,765,516 shares of the company's stock traded hands, compared to its average volume of 6,266,828. The company has a fifty day moving average of $167.33 and a two-hundred day moving average of $176.84. Applied Materials, Inc. has a one year low of $141.23 and a one year high of $255.89. The company has a market capitalization of $117.81 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. 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 (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 39.50% and a net margin of 22.95%. As a group, sell-side analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This is an increase from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, May 22nd. Applied Materials's payout ratio is 24.05%.

Applied Materials announced that its board has approved a stock buyback plan on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is 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.