Colonial Trust Advisors acquired a new stake in Applied Materials (NASDAQ:AMAT) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,265 shares of the manufacturing equipment provider’s stock, valued at approximately $1,739,000.
A number of other large investors have also added to or reduced their stakes in AMAT. Financial Gravity Companies Inc. acquired a new stake in shares of Applied Materials during the fourth quarter valued at about $110,000. Risk Paradigm Group LLC acquired a new stake in shares of Applied Materials during the fourth quarter valued at about $110,000. Shine Investment Advisory Services Inc. boosted its stake in shares of Applied Materials by 368.3% during the first quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock valued at $114,000 after purchasing an additional 1,617 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of Applied Materials during the fourth quarter valued at about $122,000. Finally, SevenBridge Financial Group LLC boosted its stake in shares of Applied Materials by 957.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock valued at $122,000 after purchasing an additional 2,155 shares in the last quarter. 75.50% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Needham & Company LLC cut their price target on Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Monday. Craig Hallum cut their price target on Applied Materials from $76.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, May 18th. They noted that the move was a valuation call. Deutsche Bank set a $65.00 price target on Applied Materials and gave the company a “buy” rating in a research note on Friday, May 18th. Stifel Nicolaus lifted their price target on Applied Materials from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 18th. Finally, B. Riley cut their price target on Applied Materials from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, May 18th. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Applied Materials presently has a consensus rating of “Buy” and a consensus price target of $64.56.
Shares of AMAT stock opened at $50.25 on Wednesday. The company has a market capitalization of $52.53 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 0.84 and a beta of 1.65. The company has a quick ratio of 1.83, a current ratio of 2.60 and a debt-to-equity ratio of 0.75. Applied Materials has a fifty-two week low of $40.79 and a fifty-two week high of $62.40.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.08. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.45 billion. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. During the same period in the previous year, the company posted $0.79 earnings per share. research analysts anticipate that Applied Materials will post 4.56 earnings per share for the current year.
Applied Materials announced that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Applied Materials news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total value of $922,050.00. Following the completion of the sale, the director now directly owns 76,967 shares in the company, valued at $4,731,161.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.35% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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