Applied Materials, Inc. (AMAT) Stake Decreased by Carret Asset Management LLC

Carret Asset Management LLC reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,850 shares of the manufacturing equipment provider’s stock after selling 1,855 shares during the quarter. Carret Asset Management LLC’s holdings in Applied Materials were worth $3,170,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Summit Financial Wealth Advisors LLC boosted its position in shares of Applied Materials by 0.3% during the second quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after purchasing an additional 19 shares in the last quarter. Adirondack Trust Co. boosted its position in shares of Applied Materials by 1.1% during the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock valued at $151,000 after purchasing an additional 40 shares in the last quarter. Affinity Wealth Management boosted its holdings in Applied Materials by 0.8% in the second quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock worth $264,000 after acquiring an additional 48 shares in the last quarter. Wunderlich Capital Managemnt boosted its holdings in Applied Materials by 2.9% in the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after acquiring an additional 87 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. boosted its holdings in Applied Materials by 0.5% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock worth $864,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

In related news, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction that occurred 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 available through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction that occurred 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. 0.31% of the stock is currently owned by corporate insiders.

Several equities research analysts have commented on AMAT shares. Royal Bank Of Canada reissued a “buy” rating on shares of Applied Materials in a report on Friday, October 27th. Bank of America boosted their target price on 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 boosted their target price on Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. B. Riley reissued 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 boosted their target price on Applied Materials to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $61.15.

Applied Materials, Inc. (NASDAQ:AMAT) opened at $51.01 on Thursday. The firm has a market capitalization of $53,079.05, a PE ratio of 15.31, a PEG ratio of 0.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. Applied Materials, Inc. has a one year low of $31.29 and a one year high of $60.89.

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, beating analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. research analysts forecast that Applied Materials, Inc. will post 3.96 EPS for the current year.

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Applied Materials Profile

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

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