Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,093,076 shares of the manufacturing equipment provider’s stock after selling 8,393 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of Applied Materials worth $177,155,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in Applied Materials during the fourth quarter worth $27,000. DSM Capital Partners LLC purchased a new stake in Applied Materials during the fourth quarter worth $37,000. First United Bank & Trust purchased a new stake in Applied Materials during the fourth quarter worth $45,000. Tompkins Financial Corp purchased a new stake in Applied Materials during the fourth quarter worth $49,000. Finally, Highlander Capital Management LLC boosted its position in Applied Materials by 60.0% during the fourth quarter. Highlander Capital Management LLC now owns 320 shares of the manufacturing equipment provider’s stock worth $52,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

AMAT has been the topic of several recent research reports. UBS Group upped their price objective on Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $240.00 price objective on shares of Applied Materials in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a research report on Thursday, April 11th. They issued a “hold” rating and a $225.00 price objective on the stock. Bank of America upped their price objective on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Evercore ISI initiated coverage on Applied Materials in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average target price of $219.04.

Read Our Latest Stock Analysis on AMAT

Insider Activity at Applied Materials

In other news, SVP Teri A. Little sold 7,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Teri A. Little sold 7,500 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the sale, the senior vice president now owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Applied Materials Trading Down 0.0 %

Shares of NASDAQ AMAT opened at $221.73 on Friday. The company has a market cap of $183.59 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 2.90 and a beta of 1.56. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $225.07. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $208.88 and its 200 day simple moving average is $186.46.

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 the consensus estimate of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter last year, the business posted $2.00 EPS. The business’s revenue was up .2% on a year-over-year basis. Equities research analysts expect that Applied Materials, Inc. will post 8.32 EPS for the current year.

Applied Materials Company 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.

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

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