Applied Materials Inc. (AMAT) Short Interest Update
Applied Materials Inc. (NASDAQ:AMAT) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 14,620,376 shares, a growth of 13.5% from the August 31st total of 12,875,973 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 12,814,636 shares, the short-interest ratio is presently 1.1 days.
AMAT has been the subject of several research analyst reports. Nomura restated a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Applied Materials in a report on Thursday, June 23rd. Vetr lowered shares of Applied Materials from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a report on Thursday, July 7th. Pacific Crest reiterated a “buy” rating on shares of Applied Materials in a report on Thursday, September 22nd. B. Riley reiterated a “buy” rating and set a $27.00 target price on shares of Applied Materials in a report on Friday, June 10th. Finally, DA Davidson upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and lifted their target price for the company from $24.00 to $28.00 in a report on Friday, June 24th. Six analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Applied Materials has an average rating of “Buy” and a consensus target price of $30.72.
Shares of Applied Materials (NASDAQ:AMAT) opened at 30.15 on Friday. The company has a market cap of $32.59 billion, a P/E ratio of 23.78 and a beta of 1.79. Applied Materials has a 12 month low of $14.64 and a 12 month high of $31.07. The stock’s 50 day moving average is $29.48 and its 200-day moving average is $24.59.
Applied Materials (NASDAQ:AMAT) last posted its earnings results 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. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The company earned $2.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. Applied Materials’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts forecast that Applied Materials will post $1.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. Applied Materials’s payout ratio is 31.25%.
In other Applied Materials 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Omkaram Nalamasu sold 99,491 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $30.15, for a total transaction of $2,999,653.65. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of AMAT. Thompson Davis & CO. Inc. boosted its stake in Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock worth $101,000 after buying an additional 2,418 shares during the last quarter. TLP Group LLC purchased a new stake in Applied Materials during the second quarter worth approximately $105,000. Clean Yield Group boosted its stake in Applied Materials by 16.5% in the second quarter. Clean Yield Group now owns 4,950 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 700 shares during the last quarter. First PREMIER Bank purchased a new stake in Applied Materials during the second quarter worth approximately $120,000. Finally, NEXT Financial Group Inc boosted its stake in Applied Materials by 406.1% in the second quarter. NEXT Financial Group Inc now owns 6,605 shares of the manufacturing equipment provider’s stock worth $158,000 after buying an additional 5,300 shares during the last quarter. 82.20% of the stock is owned by institutional investors.
About Applied Materials
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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