Allworth Financial LP Sells 5,402 Shares of Applied Materials, Inc. $AMAT

Key Points

• Allworth Financial reduced its Applied Materials position by 9.3% in the second quarter, selling 5,402 shares and retaining 52,923 shares valued at $38.3 million. Institutional investors collectively own 80.56% of the company.
• Applied Materials reported strong quarterly results, with EPS of $3.50 and revenue of $9.12 billion, exceeding analyst expectations; revenue increased 24.8% year over year.
• Analysts maintain a generally bullish outlook, with a “Moderate Buy” consensus rating and an average price target of $658.45, although insiders have sold 231,692 shares worth approximately $146.1 million over the past 90 days.

Allworth Financial LP lessened its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,923 shares of the manufacturing equipment provider's stock after selling 5,402 shares during the quarter. Allworth Financial LP's holdings in Applied Materials were worth $38,264,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cornerstone Financial Management LLC purchased a new stake in shares of Applied Materials during the 4th quarter valued at about $25,000. Wilkerson Advisory Group LLC purchased a new position in shares of Applied Materials in the 4th quarter valued at approximately $26,000. Harborfront Financial Group LLC acquired a new position in Applied Materials in the 2nd quarter worth approximately $27,000. Financial Freedom LLC acquired a new stake in shares of Applied Materials during the 1st quarter worth approximately $28,000. Finally, Orion Capital Management LLC purchased a new position in shares of Applied Materials during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Price Performance

Shares of Applied Materials stock traded up $18.08 during trading on Tuesday, hitting $472.79. The stock had a trading volume of 6,301,680 shares, compared to its average volume of 8,119,141. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.42 and a quick ratio of 1.79. The firm has a market cap of $375.21 billion, a P/E ratio of 40.76, a PEG ratio of 1.27 and a beta of 1.60. The business has a fifty day moving average of $528.45 and a two-hundred day moving average of $462.00. Applied Materials, Inc. has a fifty-two week low of $161.75 and a fifty-two week high of $739.67.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, August 13th. The manufacturing equipment provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.40 by $0.10. The business had revenue of $9.12 billion during the quarter, compared to analysts' expectations of $8.99 billion. Applied Materials had a return on equity of 38.02% and a net margin of 30.05%.Applied Materials's revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.48 earnings per share. Applied Materials has set its Q4 2026 guidance at 3.820-4.220 EPS. On average, sell-side analysts expect that Applied Materials, Inc. will post 12.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMAT. B. Riley Financial reiterated a "buy" rating and issued a $700.00 price objective (down from $790.00) on shares of Applied Materials in a research report on Friday, August 14th. Wall Street Zen raised shares of Applied Materials from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Wells Fargo & Company lifted their price target on Applied Materials from $715.00 to $740.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $605.00 price objective on shares of Applied Materials in a research report on Friday, August 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Applied Materials in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Applied Materials has an average rating of "Moderate Buy" and an average price target of $658.45.

Insider Activity at Applied Materials

In related news, insider Prabu G. Raja sold 10,000 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $633.53, for a total value of $6,335,300.00. Following the completion of the transaction, the insider directly owned 346,642 shares in the company, valued at approximately $219,608,106.26. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas J. Iannotti sold 9,250 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $599.77, for a total value of $5,547,872.50. Following the completion of the sale, the director owned 40,559 shares in the company, valued at approximately $24,326,071.43. This represents a 18.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 231,692 shares of company stock worth $146,114,059. Insiders own 0.30% of the company's stock.

Applied Materials Profile

Applied Materials, Inc is a U.S.-based supplier of equipment, services and software used to manufacture semiconductor chips, flat panel displays and other advanced materials. Headquartered in Santa Clara, California, the company designs and sells capital equipment and related technologies that enable production of integrated circuits, display panels and materials used across the electronics supply chain.

Applied Materials' offerings include process equipment and factory software that support critical steps in device fabrication, such as deposition, etch, implantation, inspection and metrology, as well as systems for packaging and advanced heterogeneous integration.

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