1832 Asset Management L.P. Sells 7,411 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

1832 Asset Management L.P. lowered its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,218 shares of the manufacturing equipment provider’s stock after selling 7,411 shares during the quarter. 1832 Asset Management L.P.’s holdings in Applied Materials were worth $4,087,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cetera Advisor Networks LLC grew its position in Applied Materials by 1.7% in the 4th quarter. Cetera Advisor Networks LLC now owns 95,269 shares of the manufacturing equipment provider’s stock valued at $15,440,000 after acquiring an additional 1,576 shares during the last quarter. Annex Advisory Services LLC increased its position in shares of Applied Materials by 37.1% during the fourth quarter. Annex Advisory Services LLC now owns 100,803 shares of the manufacturing equipment provider’s stock worth $16,337,000 after acquiring an additional 27,253 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Applied Materials by 168.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 156,261 shares of the manufacturing equipment provider’s stock valued at $25,325,000 after purchasing an additional 98,017 shares during the period. Capital International Sarl grew its stake in Applied Materials by 7.1% in the fourth quarter. Capital International Sarl now owns 145,090 shares of the manufacturing equipment provider’s stock worth $23,515,000 after purchasing an additional 9,674 shares in the last quarter. Finally, Capital International Investors raised its position in Applied Materials by 3.2% during the 4th quarter. Capital International Investors now owns 22,005,192 shares of the manufacturing equipment provider’s stock valued at $3,566,418,000 after purchasing an additional 682,098 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Insider Activity

In related news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total value of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the transaction, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock opened at $221.73 on Friday. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $225.07. The stock has a market cap of $183.59 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 2.92 and a beta of 1.56. The business has a 50-day simple moving average of $208.88 and a 200-day simple moving average of $186.46. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Applied Materials, Inc. will post 8.32 EPS for the current year.

Wall Street Analyst Weigh In

AMAT has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on shares of Applied Materials from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $165.00 to $225.00 in a research note on Wednesday. Mizuho lifted their price target on Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 17th. B. Riley raised their price objective on Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Jefferies Financial Group cut shares of Applied Materials from a “buy” rating to a “hold” rating and lowered their price target for the company from $215.00 to $210.00 in a report on Monday, May 13th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $219.04.

Check Out Our Latest Report on AMAT

Applied Materials Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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