Petredis Investment Advisors LLC Sells 799 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Petredis Investment Advisors LLC decreased its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,565 shares of the manufacturing equipment provider’s stock after selling 799 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Applied Materials were worth $5,602,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Heritage Wealth Advisors boosted its position in shares of Applied Materials by 1.0% during the fourth quarter. Heritage Wealth Advisors now owns 5,217 shares of the manufacturing equipment provider’s stock worth $846,000 after buying an additional 54 shares during the period. Mechanics Financial Corp boosted its position in shares of Applied Materials by 1.7% during the fourth quarter. Mechanics Financial Corp now owns 3,957 shares of the manufacturing equipment provider’s stock worth $641,000 after buying an additional 65 shares during the period. Catalyst Financial Partners LLC boosted its position in shares of Applied Materials by 1.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 4,496 shares of the manufacturing equipment provider’s stock worth $729,000 after buying an additional 65 shares during the period. Parallel Advisors LLC boosted its position in shares of Applied Materials by 0.4% during the fourth quarter. Parallel Advisors LLC now owns 15,262 shares of the manufacturing equipment provider’s stock worth $2,474,000 after buying an additional 66 shares during the period. Finally, Kaizen Financial Strategies raised its holdings in Applied Materials by 2.0% during the fourth quarter. Kaizen Financial Strategies now owns 3,733 shares of the manufacturing equipment provider’s stock worth $605,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMAT shares. Deutsche Bank Aktiengesellschaft started coverage on Applied Materials in a report on Thursday, April 11th. They set a “hold” rating and a $225.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $240.00 target price on shares of Applied Materials in a report on Friday, May 17th. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $165.00 to $225.00 in a report on Wednesday, June 5th. Bank of America upped their target price on Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $230.00 target price on shares of Applied Materials in a report on Wednesday, May 15th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $219.04.

Check Out Our Latest Analysis on AMAT

Insider Buying and Selling

In related news, CFO Brice Hill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Applied Materials news, 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 sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $221.62, for a total value of $554,050.00. Following the completion of the sale, the senior vice president now directly owns 76,212 shares in the company, valued at approximately $16,890,103.44. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock valued at $6,598,500 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded down $0.10 during trading hours on Thursday, reaching $237.55. 3,681,641 shares of the stock were exchanged, compared to its average volume of 5,749,226. The firm has a market capitalization of $196.68 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 2.99 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $238.40. The stock’s fifty day simple moving average is $211.04 and its 200 day simple moving average is $188.78.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 earnings per share. Sell-side analysts predict that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials 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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