Applied Materials Inc. (AMAT) Reaches New 52-Week High at $30.16
Applied Materials Inc. (NASDAQ:AMAT) shares hit a new 52-week high on Friday . The company traded as high as $30.16 and last traded at $29.88, with a volume of 6,984,518 shares trading hands. The stock had previously closed at $29.65.
AMAT has been the topic of a number of research reports. B. Riley reaffirmed an “amat ($29.20” rating and issued a $39.00 price target on shares of Applied Materials in a research note on Sunday, August 21st. Bank of America Corp. reaffirmed a “buy” rating on shares of Applied Materials in a research note on Sunday, May 22nd. Pacific Crest reaffirmed a “buy” rating on shares of Applied Materials in a research note on Sunday, May 22nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $26.00 price target on shares of Applied Materials in a research note on Sunday, May 22nd. Finally, Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $22.02 price target on the stock in a research note on Monday, May 2nd. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $30.11.
The stock has a market capitalization of $32.46 billion and a price-to-earnings ratio of 23.64. The stock has a 50 day moving average of $27.02 and a 200-day moving average of $22.62.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the company posted $0.33 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts anticipate that Applied Materials Inc. will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 25th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, August 23rd.
In related news, VP Ali Salehpour sold 35,504 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $23.95, for a total transaction of $850,320.80. Following the completion of the transaction, the vice president now owns 531,195 shares of the company’s stock, valued at $12,722,120.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Applied Materials stock. BlackRock Advisors LLC increased its stake in Applied Materials Inc. (NASDAQ:AMAT) by 27.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,129,528 shares of the manufacturing equipment provider’s stock after buying an additional 240,845 shares during the period. BlackRock Advisors LLC owned approximately 0.10% of Applied Materials worth $21,088,000 at the end of the most recent reporting period.
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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