MBB Public Markets I LLC has purchased a new stake in Applied Materials, Inc. (NASDAQ: AMAT) during the first quarter of 2023. According to the company’s recent disclosure to the Securities and Exchange Commission, MBB acquired 1,934 shares of the manufacturing equipment provider, valued at approximately $281,000. This investment reflects growing interest in the semiconductor manufacturing sector, which is currently experiencing significant market activity.
A number of other institutional investors have also made moves regarding Applied Materials’ stock in recent months. Notably, Runnymede Capital Advisors Inc. increased its position by an impressive 972.2%, resulting in a total ownership of 193 shares valued at $28,000 after adding 175 shares in the last quarter. Similarly, Smallwood Wealth Investment Management LLC purchased a new stake valued at $29,000, while Clal Insurance Enterprises Holdings Ltd. raised its position by 435.0% to own 214 shares, now valued at $31,000.
Moreover, Activest Wealth Management made a substantial increase of 5,325.0%, bringing its total ownership to 217 shares worth $31,000. Lastly, Disciplina Capital Management LLC boosted its holdings by 91.5%, owning 272 shares valued at $39,000. Collectively, institutional investors now control 80.56% of Applied Materials’ stock.
In related news, Applied Materials’ Chief Accounting Officer, Adam Sanders, sold 562 shares of the company’s stock on June 24, 2023, at an average price of $178.60, totaling $100,373.20. Following this transaction, he retains 5,300 shares, with a current value of approximately $946,580, reflecting a 9.59% decrease in his overall position.
Recent Performance and Analyst Ratings
Applied Materials announced its quarterly earnings on August 14, 2023, reporting earnings per share of $2.48, surpassing the consensus estimate of $2.36 by $0.12. The firm generated revenue of $7.30 billion for the quarter, exceeding the expected $7.21 billion. The company achieved a return on equity of 40.96% and a net margin of 23.88%. Compared to the same quarter last year, revenue increased by 7.7%, with earnings per share rising from $2.12 in the prior year.
Looking ahead, Applied Materials has set its guidance for Q4 2025 at earnings per share between $1.910 and $2.310. Analysts predict that the company will post an annual earnings per share of $9.38 for 2023.
Several analysts have recently revised their ratings and price targets for Applied Materials. Mizuho lowered its price objective from $220.00 to $200.00, maintaining an “outperform” rating. Meanwhile, Summit Insights downgraded its rating from “buy” to “hold.” Bank of America reiterated a “neutral” rating with a target price of $180.00, down from $190.00. Deutsche Bank Aktiengesellschaft also adjusted its price target from $200.00 to $170.00, while Wolfe Research reduced its target from $230.00 to $200.00.
Currently, seventeen research analysts rate Applied Materials with a “buy” rating, thirteen assign a “hold” rating, and one analyst gives it a “sell” rating. As per data from MarketBeat.com, the consensus rating for Applied Materials stands at “Moderate Buy” with a target price of $193.88.
Applied Materials, Inc. specializes in providing manufacturing equipment, services, and software to the semiconductor and display industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment focuses on developing and manufacturing equipment for fabricating semiconductor chips and integrated circuits.
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