L & S Advisors Inc Has $8.24 Million Position in Applied Materials, Inc. (AMAT)
L & S Advisors Inc boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 158,114 shares of the manufacturing equipment provider’s stock after buying an additional 10,547 shares during the period. Applied Materials makes up approximately 1.4% of L & S Advisors Inc’s holdings, making the stock its 14th biggest holding. L & S Advisors Inc’s holdings in Applied Materials were worth $8,236,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Psagot Investment House Ltd. acquired a new stake in Applied Materials during the 3rd quarter worth approximately $313,000. AMP Capital Investors Ltd raised its holdings in Applied Materials by 6.6% during the 3rd quarter. AMP Capital Investors Ltd now owns 1,100,899 shares of the manufacturing equipment provider’s stock worth $57,347,000 after buying an additional 68,076 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Applied Materials by 12.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 282,830 shares of the manufacturing equipment provider’s stock valued at $14,732,000 after purchasing an additional 30,544 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Applied Materials by 2.1% in the third quarter. Synovus Financial Corp now owns 55,958 shares of the manufacturing equipment provider’s stock valued at $2,920,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Convergence Investment Partners LLC raised its holdings in shares of Applied Materials by 9.3% in the third quarter. Convergence Investment Partners LLC now owns 74,353 shares of the manufacturing equipment provider’s stock valued at $3,873,000 after purchasing an additional 6,339 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.
AMAT has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of Applied Materials in a report on Tuesday. They issued an “outperform” rating and a $65.00 price objective on the stock. Credit Suisse Group reiterated a “buy” rating on shares of Applied Materials in a report on Tuesday, August 29th. Goldman Sachs Group upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $52.00 in a report on Wednesday, September 13th. Morgan Stanley reiterated an “overweight” rating on shares of Applied Materials in a report on Thursday, September 14th. Finally, Bank of America lifted their price objective on shares of Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $61.15.
Applied Materials, Inc. (NASDAQ AMAT) opened at $51.01 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. The company has a market capitalization of $53,079.05, a PE ratio of 15.31, a price-to-earnings-growth ratio of 0.95 and a beta of 1.80. Applied Materials, Inc. has a 52 week low of $31.29 and a 52 week high of $60.89.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. sell-side analysts forecast that Applied Materials, Inc. will post 3.96 EPS for the current year.
In other news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
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Applied Materials Company Profile
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