7,008 Shares in Applied Materials, Inc. (AMAT) Acquired by Cypress Capital Group

Cypress Capital Group purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,008 shares of the manufacturing equipment provider’s stock, valued at approximately $365,000.

Several other institutional investors also recently added to or reduced their stakes in AMAT. Bessemer Group Inc. grew its holdings in Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after acquiring an additional 1,817 shares during the period. Canada Pension Plan Investment Board grew its holdings in Applied Materials by 48.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,732,141 shares of the manufacturing equipment provider’s stock valued at $112,865,000 after purchasing an additional 888,500 shares during the last quarter. General American Investors Co. Inc. grew its holdings in Applied Materials by 4.0% in the second quarter. General American Investors Co. Inc. now owns 260,000 shares of the manufacturing equipment provider’s stock valued at $10,741,000 after purchasing an additional 10,000 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in Applied Materials by 1.2% in the second quarter. Wetherby Asset Management Inc. now owns 17,697 shares of the manufacturing equipment provider’s stock valued at $731,000 after purchasing an additional 215 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Applied Materials by 8.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,108,012 shares of the manufacturing equipment provider’s stock valued at $169,702,000 after purchasing an additional 333,151 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

In related news, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction dated 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.

Several analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $61.00 target price on shares of Applied Materials in a report on Saturday, August 19th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 target price on the stock in a report on Monday, November 20th. J P Morgan Chase & Co upped their target price on Applied Materials to $70.00 and gave the company an “overweight” rating in a report on Friday, November 17th. Deutsche Bank upped their target price on Applied Materials from $48.00 to $52.00 and gave the company a “buy” rating in a report on Friday, August 18th. Finally, Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $61.15.

Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at $50.47 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. Applied Materials, Inc. has a 12-month low of $31.66 and a 12-month high of $60.89. The stock has a market capitalization of $54,849.42, a price-to-earnings ratio of 15.82, a PEG ratio of 0.98 and a beta of 1.80.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 43.61% and a net margin of 24.74%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the business earned $0.66 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. sell-side analysts anticipate that Applied Materials, Inc. will post 3.96 EPS for the current fiscal year.

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About Applied Materials

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

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