Laffer Investments reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,160 shares of the manufacturing equipment provider’s stock after selling 4,225 shares during the period. Applied Materials comprises approximately 0.8% of Laffer Investments’ portfolio, making the stock its 25th biggest holding. Laffer Investments’ holdings in Applied Materials were worth $3,082,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AMAT. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Applied Materials in the third quarter worth approximately $105,000. MPS Loria Financial Planners LLC bought a new position in shares of Applied Materials in the second quarter worth approximately $109,000. First Personal Financial Services grew its holdings 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 worth $134,000 after purchasing an additional 1,900 shares during the last quarter. Zions Bancorporation grew its holdings 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 worth $137,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Mosaic Family Wealth LLC grew its holdings 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 worth $142,000 after purchasing an additional 984 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.
Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at $50.76 on Thursday. Applied Materials, Inc. has a 52 week low of $31.66 and a 52 week high of $60.89. The company has a market capitalization of $54,130.00, a price-to-earnings ratio of 15.88, a P/E/G ratio of 0.98 and a beta of 1.80. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. analysts expect that Applied Materials, Inc. will post 3.96 EPS for the current fiscal year.
AMAT has been the topic of several recent analyst reports. Royal Bank of Canada restated a “buy” rating on shares of Applied Materials in a report on Friday, October 27th. Bank of America raised their target price on shares of Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Credit Suisse Group raised their target price on shares of Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. B. Riley restated a “buy” rating and issued a $63.00 target price on shares of Applied Materials in a report on Monday, November 13th. Finally, J P Morgan Chase & Co raised their target price on shares of Applied Materials to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.15.
In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Applied Materials Profile
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