Americafirst Capital Management LLC Takes $403,000 Position in Applied Materials, Inc. (AMAT)

Americafirst Capital Management LLC purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,733 shares of the manufacturing equipment provider’s stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cypress Capital Group purchased a new stake in Applied Materials during the third quarter valued at about $365,000. Belpointe Asset Management LLC purchased a new stake in Applied Materials during the third quarter valued at about $741,000. Independent Advisor Alliance lifted its stake in Applied Materials by 23.6% during the third quarter. Independent Advisor Alliance now owns 14,710 shares of the manufacturing equipment provider’s stock valued at $775,000 after buying an additional 2,809 shares in the last quarter. Insight Capital Research & Management Inc. purchased a new stake in Applied Materials during the third quarter valued at about $1,533,000. Finally, Neuberger Berman Group LLC lifted its stake in Applied Materials by 10.6% during the third quarter. Neuberger Berman Group LLC now owns 114,759 shares of the manufacturing equipment provider’s stock valued at $5,978,000 after buying an additional 11,038 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

AMAT has been the subject of a number of analyst reports. Craig Hallum upped their price objective on shares of Applied Materials to $60.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Applied Materials in a research note on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Applied Materials in a research note on Sunday, October 1st. Needham & Company LLC upped their price objective on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a research note on Friday, November 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $48.00 price objective (up from $46.00) on shares of Applied Materials in a research note on Sunday, August 20th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $61.15.

Applied Materials, Inc. (NASDAQ:AMAT) opened at $51.31 on Friday. The company has a market capitalization of $53,825.60, a P/E ratio of 15.53, a P/E/G ratio of 0.96 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, Inc. has a twelve month low of $31.66 and a twelve month high of $60.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. analysts expect that Applied Materials, Inc. will post 3.95 EPS for the current fiscal year.

In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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About Applied Materials

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

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