Twin Peaks Wealth Advisors LLC Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Twin Peaks Wealth Advisors LLC lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 30.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,315 shares of the manufacturing equipment provider’s stock after purchasing an additional 305 shares during the period. Twin Peaks Wealth Advisors LLC’s holdings in Applied Materials were worth $214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. Crews Bank & Trust bought a new stake in Applied Materials during the fourth quarter worth $28,000. MidAtlantic Capital Management Inc. bought a new stake in Applied Materials during the third quarter worth $37,000. YANKCOM Partnership purchased a new position in Applied Materials in the fourth quarter worth $32,000. Finally, Dunhill Financial LLC grew its stake in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMAT. Susquehanna lifted their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Barclays lowered their price objective on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Needham & Company LLC reduced their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $215.38.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $165.54 on Wednesday. The company has a 50 day moving average of $175.53 and a 200 day moving average of $183.56. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $134.53 billion, a P/E ratio of 21.64, a P/E/G ratio of 1.81 and a beta of 1.53. Applied Materials, Inc. has a 12 month low of $158.96 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating 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, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.97%. Applied Materials’s dividend payout ratio is currently 20.92%.

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.