American National Bank has increased its stake in Applied Materials, Inc. during the second quarter of this year, according to a recent filing with the Securities & Exchange Commission. The bank purchased an additional 1,287 shares, bringing its total holdings in the manufacturing equipment provider to 42,570 shares. The value of American National Bank’s holdings in Applied Materials now stands at $6,153,000.
Applied Materials recently released its quarterly earnings report on August 17th. The company reported earnings per share (EPS) of $1.90 for the quarter, surpassing the consensus estimate of $1.74 by $0.16 per share. Its revenue for the quarter was also higher than analyst expectations, coming in at $6.43 billion compared to an estimated $6.15 billion.
Despite a slight decline in revenue compared to the same period last year, Applied Materials still managed to achieve a net margin of 24.27% and a return on equity of 49.29%. In the previous year’s corresponding quarter, the company posted EPS of $1.94.
Sell-side analysts predict that Applied Materials will achieve earnings per share of 7.9 for the current fiscal year.
The increase in American National Bank’s position highlights their confidence in Applied Materials’ performance and future prospects. As a manufacturer and supplier of advanced semiconductor equipment, Applied Materials plays a crucial role in supporting industries such as technology and electronics manufacturing.
The company’s ability to exceed market expectations indicates its strong operational efficiency and ability to adapt to changing market conditions within the industry.
Applied Materials continues to invest heavily in research and development initiatives to stay at the forefront of technological advancements in semiconductor manufacturing equipment. This commitment positions them well for continued growth and success as demand for semiconductors remains high across various sectors.
Investors are closely monitoring Applied Materials’ financial performance as it is regarded as a bellwether for the broader semiconductor industry. Its positive earnings report has likely boosted investor confidence, contributing to the increase in American National Bank’s stake.
As of September 19, 2023, Applied Materials remains a key player in the manufacturing equipment industry, with a solid financial position and a track record of delivering strong results.
Voya Financial, Inc.
Updated on: 29/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Increased Interest in Applied Materials with Changing Stock Holdings and Varied Analyst Ratings
September 19, 2023 – Applied Materials (NASDAQ: AMAT), a leading manufacturing equipment provider, has seen several changes in its stock holdings as various institutional investors and hedge funds modify their positions. M&R Capital Management Inc. recently increased its position in Applied Materials by an astounding 110% during the second quarter, now owning 210 shares with a value of $30,000. Similarly, GoalVest Advisory LLC boosted its stake by a staggering 1,666.7% during the first quarter to own 212 shares worth $26,000.
Chelsea Counsel Co. acquired a new stake during the first quarter valued at approximately $28,000. Steward Financial Group LLC also intensified its stake by 173.9% during the same period and currently owns 252 shares valued at $30,000. Finally, China Universal Asset Management Co. Ltd., intrigued by Applied Materials’ potential growth prospects, acquired a new stake worth around $31,000.
These recent changes in holdings demonstrate increased interest in Applied Materials from hedge funds and institutional investors who collectively own roughly 77.24% of the company’s stock.
Analyst reports have been circulating regarding Applied Materials as well with varied ratings and price objectives. Redburn Partners initiated coverage on the company with a “neutral” rating, while New Street Research downgraded it from “buy” to “neutral.” Mizuho restated a “buy” rating for Applied Materials and assigned it an impressive price objective of $158.00.
Citigroup raised its price objective from $160.00 to $170.00 and gave Applied Materials a “buy” rating. TD Cowen further elevated the target price to $160.00 with an “outperform” rating.
With one analyst holding a sell rating, eight maintaining hold ratings, and twenty-two endorsing buy ratings for Applied Materials, Bloomberg.com reports that the company currently holds a consensus rating of “Moderate Buy” and a consensus price target of $150.41.
In other news, Senior Vice President Teri A. Little sold 10,000 shares of Applied Materials stock on Friday, July 7th, at an average price of $142.00 per share, amounting to a total transaction of $1,420,000. Following the sale, Little now possesses 69,504 shares valued at $9,869,568.
Chief Financial Officer Brice Hill also sold 1,000 shares on Wednesday, August 30th at an average price of $150.04 per share for a total value of $150,040. Hill currently holds 106,o23 shares with a value of $15,907,690.92.
These insider trading activities were reported to the Securities & Exchange Commission (SEC) and can be accessed through their website. As disclosed in the filing with the SEC and published through this hyperlink by Applied Materials Inc., the company insiders now own approximately 0.25% of the company’s stock.
Trading on the NASDAQ exchange opened at $140.27 for Applied Materials on Tuesday. The firm has a debt-to-equity ratio of 0.36 along with a current ratio of 2.30 and quick ratio of 1.59 demonstrating strong liquidity positions against its given debt structure.
Applied Materials boasts a market capitalization valued at $117.76 billion with a P/E ratio standing at 18.51 and PEG ratio indicated as 2.87 reflecting a slightly higher valuation in relation to its future growth prospects.
The company’s beta is recorded at 1.60 indicating higher volatility compared to benchmark indexes such as S&P 500 which usually demonstrate a beta value equal to one.
With an impressive fifty-day moving average calculated as $145.04 and two-hundred day moving average computed as $131.!9; Applied Materials has a 12 month low of $71.12 and a high of $155.26 emphasizing the significant growth prospects witnessed in the past year.
Applied Materials’ recent changes in stock holdings, coupled with varying analyst ratings, suggest a dynamic market environment for investors to closely monitor. The company’s remarkable performance and potential for future growth make it an appealing prospect in the manufacturing equipment industry.