Fortune Financial Advisors LLC Has $2.80 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Fortune Financial Advisors LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,842 shares of the manufacturing equipment provider’s stock after selling 81 shares during the period. Applied Materials accounts for approximately 1.7% of Fortune Financial Advisors LLC’s holdings, making the stock its 16th largest holding. Fortune Financial Advisors LLC’s holdings in Applied Materials were worth $2,795,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Applied Materials during the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Applied Materials in the 1st quarter valued at $26,000. PSI Advisors LLC boosted its position in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in Applied Materials in the 4th quarter valued at $27,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Applied Materials in the 1st quarter valued at $35,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on AMAT shares. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. TD Cowen increased their price objective on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Wells Fargo & Company raised their price target on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.14.

Applied Materials Stock Performance

AMAT opened at $185.94 on Thursday. The business’s 50-day moving average price is $206.36 and its two-hundred day moving average price is $210.95. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a market capitalization of $153.29 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 2.08 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (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 firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the business posted $1.90 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Insider Buying and Selling at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Prabu G. Raja sold 50,000 shares of Applied Materials stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the sale, the insider now directly owns 458,417 shares in the company, valued at approximately $114,223,763.89. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Applied Materials Company 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.