Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by MGO One Seven LLC

MGO One Seven LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,637 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,248 shares during the period. MGO One Seven LLC’s holdings in Applied Materials were worth $3,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMAT. Redmont Wealth Advisors LLC acquired a new position in shares of Applied Materials in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in shares of Applied Materials in the 2nd quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Applied Materials in the 4th quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Applied Materials in the 1st quarter valued at approximately $35,000. Finally, RFP Financial Group LLC raised its position in shares of Applied Materials by 96.6% in the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Up 4.4 %

Shares of Applied Materials stock opened at $185.94 on Thursday. 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 firm has a market cap of $153.29 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.55. The business has a fifty day simple moving average of $206.36 and a 200-day simple moving average of $210.95. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89.

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

Insider Activity

In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the transaction, the insider now directly owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the transaction, the insider now directly owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 49,185 shares in the company, valued at $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMAT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a report on Friday, August 16th. Raymond James boosted their price target on Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $165.00 to $225.00 in a report on Wednesday, June 5th. Morgan Stanley boosted their price target on Applied Materials from $223.00 to $224.00 and gave the company an “equal weight” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price target on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $233.14.

Applied Materials 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.