Applied Materials, Inc. (AMAT) Stake Lowered by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 16.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,819 shares of the manufacturing equipment provider’s stock after selling 2,592 shares during the period. Moors & Cabot Inc.’s holdings in Applied Materials were worth $667,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMAT. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Applied Materials in the third quarter valued at about $105,000. MPS Loria Financial Planners LLC acquired a new stake in shares of Applied Materials in the second quarter valued at about $109,000. First Personal Financial Services lifted its stake in shares of Applied Materials by 281.5% in the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after purchasing an additional 1,900 shares during the period. Zions Bancorporation lifted its stake in shares of Applied Materials by 349.1% in the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 2,049 shares during the period. Finally, Mosaic Family Wealth LLC lifted its stake in shares of Applied Materials by 56.1% in the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after purchasing an additional 984 shares during the period. Institutional investors own 79.15% of the company’s stock.

In related news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Several analysts recently commented on the stock. Vetr cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 price objective for the company. in a research note on Tuesday, November 21st. Nomura reiterated a “buy” rating and issued a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. Royal Bank of Canada raised their price objective on shares of Applied Materials from $55.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Credit Suisse Group raised their price objective on shares of Applied Materials from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Finally, Needham & Company LLC raised their price objective on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a research note on Friday, November 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $61.15.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at $51.31 on Friday. The company has a market cap of $53,825.60, a PE ratio of 15.53, a PEG ratio of 0.96 and a beta of 1.80. Applied Materials, Inc. has a twelve month low of $31.66 and a twelve month high of $60.89. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. Applied Materials’s revenue was up 20.4% compared to the same quarter last year. research analysts predict that Applied Materials, Inc. will post 3.95 EPS for the current year.

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About Applied Materials

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

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