Applied Materials, Inc. (NASDAQ:AMAT) Stock Holdings Cut by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,903 shares of the manufacturing equipment provider’s stock after selling 1,258 shares during the period. Oppenheimer & Co. Inc.’s holdings in Applied Materials were worth $13,665,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMAT. Precision Wealth Strategies LLC grew its position in Applied Materials by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock worth $502,000 after buying an additional 242 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Applied Materials by 11.1% in the 4th quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock worth $678,000 after acquiring an additional 418 shares during the last quarter. Gryphon Financial Partners LLC raised its position in shares of Applied Materials by 5.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock worth $249,000 after purchasing an additional 84 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Applied Materials by 25.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 20,420 shares of the manufacturing equipment provider’s stock valued at $3,309,000 after purchasing an additional 4,129 shares during the last quarter. Finally, M&G Investment Management Ltd. acquired a new position in shares of Applied Materials in the 4th quarter valued at $1,658,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Transactions at Applied Materials

In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the transaction, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Prabu G. Raja sold 50,000 shares of Applied Materials stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the transaction, the insider now directly owns 458,417 shares in the company, valued at $114,223,763.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMAT has been the topic of several recent analyst reports. B. Riley cut their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Citigroup cut their price target on shares of Applied Materials from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Wells Fargo & Company raised their price objective on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Stifel Nicolaus cut their target price on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, UBS Group decreased their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Applied Materials Price Performance

NASDAQ AMAT opened at $183.21 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $151.69 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.08 and a beta of 1.55. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89. The company has a 50 day moving average price of $205.16 and a two-hundred day moving average price of $210.76.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. Applied Materials’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. As a group, equities analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Company Profile

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.