Investors Buy Applied Materials Inc. (AMAT) on Weakness
Investors purchased shares of Applied Materials Inc. (NASDAQ:AMAT) on weakness during trading on Monday. $55.08 million flowed into the stock on the tick-up and $44.84 million flowed out of the stock on the tick-down, for a money net flow of $10.24 million into the stock. Of all stocks tracked, Applied Materials had the 20th highest net in-flow for the day. Applied Materials traded down ($0.27) for the day and closed at $30.02
Several research firms recently weighed in on AMAT. B. Riley reiterated a “buy” rating and issued a $27.00 target price on shares of Applied Materials in a report on Tuesday, July 5th. Pacific Crest restated a “buy” rating on shares of Applied Materials in a research note on Sunday, May 22nd. Morgan Stanley restated a “buy” rating on shares of Applied Materials in a research note on Sunday, May 22nd. Stifel Nicolaus boosted their price target on shares of Applied Materials from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. Finally, Summit Redstone restated a “buy” rating on shares of Applied Materials in a research note on Wednesday, June 29th. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.11.
The firm has a 50-day moving average of $27.65 and a 200 day moving average of $23.07. The company has a market cap of $32.45 billion and a P/E ratio of 23.68.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. Equities research analysts anticipate that Applied Materials Inc. will post $1.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.33%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Omkaram Nalamasu sold 26,035 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The disclosure for this sale can be found here.
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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