Applied Materials Inc. (AMAT) Reaches New 12-Month High at $26.83
Applied Materials Inc. (NASDAQ:AMAT) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.83 and last traded at $26.81, with a volume of 12,445,956 shares traded. The stock had previously closed at $26.49.
AMAT has been the topic of several research analyst reports. BNP Paribas lifted their price target on Applied Materials to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 1st. Vetr lowered Applied Materials from a “strong-buy” rating to a “buy” rating and set a $25.00 price target on the stock. in a research report on Wednesday, June 29th. Needham & Company LLC boosted their target price on Applied Materials from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 12th. Nomura reissued a “buy” rating and issued a $28.00 target price on shares of Applied Materials in a report on Tuesday, July 5th. Finally, DA Davidson lowered Applied Materials from a “buy” rating to a “neutral” rating and set a $23.00 target price on the stock. in a report on Wednesday, April 6th. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and a consensus target price of $25.73.
The stock has a market capitalization of $29.20 billion and a P/E ratio of 24.82. The company has a 50 day moving average of $24.65 and a 200 day moving average of $20.95.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 19th. The manufacturing equipment provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.42 billion. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. Equities research analysts anticipate that Applied Materials Inc. will post $1.53 EPS for the current fiscal year.
The company 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, August 23rd.
In other news, VP Ali Salehpour sold 40,000 shares of Applied Materials stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $24.37, for a total transaction of $974,800.00. Following the transaction, the vice president now directly owns 548,947 shares in the company, valued at approximately $13,377,838.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $22.86, for a total value of $114,300.00. Following the transaction, the director now owns 93,959 shares in the company, valued at $2,147,902.74. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of the stock. Tredje AP fonden boosted its position in shares of Applied Materials by 1.7% in the fourth quarter. Tredje AP fonden now owns 78,651 shares of the manufacturing equipment provider’s stock valued at $1,468,000 after buying an additional 1,295 shares during the period. Flippin Bruce & Porter Inc. raised its stake in Applied Materials by 1.8% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 84,375 shares of the manufacturing equipment provider’s stock valued at $1,575,000 after buying an additional 1,500 shares in the last quarter. Bragg Financial Advisors Inc raised its stake in Applied Materials by 3.2% in the fourth quarter. Bragg Financial Advisors Inc now owns 104,376 shares of the manufacturing equipment provider’s stock valued at $1,949,000 after buying an additional 3,230 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in Applied Materials by 3.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 158,670 shares of the manufacturing equipment provider’s stock valued at $2,962,000 after buying an additional 4,773 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in Applied Materials by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 354,458 shares of the manufacturing equipment provider’s stock valued at $6,618,000 after buying an additional 7,900 shares in the last quarter.
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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