Insider Selling: Applied Materials, Inc. (AMAT) Director Sells $290,000.00 in Stock
Applied Materials, Inc. (NASDAQ:AMAT) Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were 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 SEC, which is accessible through this link.
Applied Materials, Inc. (AMAT) traded down $1.08 during mid-day trading on Friday, hitting $51.69. 11,196,288 shares of the stock were exchanged, compared to its average volume of 9,923,230. The company has a market cap of $56,490.00, a PE ratio of 17.64, a PEG ratio of 1.09 and a beta of 1.85. 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, Inc. has a one year low of $29.85 and a one year high of $60.89.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. research analysts forecast that Applied Materials, Inc. will post 3.96 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. LeJeune Puetz Investment Counsel LLC bought a new position in Applied Materials in the 3rd quarter valued at about $105,000. MPS Loria Financial Planners LLC bought a new position in Applied Materials in the 2nd quarter valued at about $109,000. First Personal Financial Services lifted its position in Applied Materials by 281.5% in the 3rd quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after acquiring an additional 1,900 shares in the last quarter. Zions Bancorporation lifted its position in Applied Materials by 349.1% in the 3rd quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Mosaic Family Wealth LLC lifted its position in Applied Materials by 56.1% in the 3rd quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after acquiring an additional 984 shares in the last quarter. 78.60% of the stock is currently owned by institutional investors.
AMAT has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and set a $61.00 price target on shares of Applied Materials in a report on Saturday, August 19th. Craig Hallum upped their price target on shares of Applied Materials to $60.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Nomura increased their price objective on Applied Materials from $47.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 18th. Deutsche Bank increased their price objective on Applied Materials from $48.00 to $52.00 and gave the company a “buy” rating in a report on Friday, August 18th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $61.00 price objective (up from $55.00) on shares of Applied Materials in a report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.99.
About Applied Materials
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