Envestnet Asset Management Inc. Has $177.16 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Envestnet Asset Management Inc. lessened its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,093,076 shares of the manufacturing equipment provider’s stock after selling 8,393 shares during the period. Envestnet Asset Management Inc.’s holdings in Applied Materials were worth $177,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Aldebaran Financial Inc. bought a new stake in Applied Materials in the 4th quarter worth about $211,000. Sycomore Asset Management grew its position in Applied Materials by 55.6% in the 4th quarter. Sycomore Asset Management now owns 33,107 shares of the manufacturing equipment provider’s stock worth $5,437,000 after purchasing an additional 11,825 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Applied Materials in the 4th quarter worth about $7,274,000. GHP Investment Advisors Inc. grew its position in Applied Materials by 132.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 16,704 shares of the manufacturing equipment provider’s stock worth $2,707,000 after purchasing an additional 9,527 shares in the last quarter. Finally, CWM LLC grew its position in Applied Materials by 18.9% in the 4th quarter. CWM LLC now owns 37,821 shares of the manufacturing equipment provider’s stock worth $6,130,000 after purchasing an additional 6,001 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

AMAT stock opened at $221.73 on Friday. 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 $225.07. The firm’s fifty day moving average is $208.88 and its 200 day moving average is $186.46. The firm has a market cap of $183.59 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.90 and a beta of 1.56.

Applied Materials (NASDAQ:AMATGet Free Report) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 EPS. Research analysts predict that Applied Materials, Inc. will post 8.32 earnings per share for the current year.

Wall Street Analyst Weigh In

AMAT has been the subject of a number of research reports. Citigroup increased their target price on shares of Applied Materials from $170.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Evercore ISI initiated coverage on shares of Applied Materials in a research report on Tuesday, April 16th. They set an “outperform” rating and a $260.00 target price for the company. UBS Group increased their target price on shares of Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Susquehanna increased their target price on shares of Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $165.00 to $225.00 in a report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and an average target price of $219.04.

Check Out Our Latest Report on AMAT

Insiders Place Their Bets

In related news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the transaction, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the transaction, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

About Applied Materials

(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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