Applied Materials Inc. (AMAT) Shares Down 1%
Applied Materials Inc. (NASDAQ:AMAT) traded down 1% on Friday . The company traded as low as $29.96 and last traded at $29.98, with a volume of 5,510,125 shares changing hands. The stock had previously closed at $30.29.
A number of equities research analysts have recently weighed in on the stock. Argus reissued a “buy” rating and set a $34.00 price objective on shares of Applied Materials in a report on Wednesday, August 24th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a report on Tuesday, August 23rd. S&P Equity Research set a $31.00 price target on shares of Applied Materials and gave the company a “hold” rating in a report on Sunday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target (up from $29.00) on shares of Applied Materials in a report on Sunday, August 21st. Finally, B. Riley reaffirmed an “amat ($29.20” rating and issued a $39.00 price target on shares of Applied Materials in a report on Sunday, August 21st. Six investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $30.11.
The stock has a 50 day moving average price of $27.54 and a 200-day moving average price of $23.02. The firm has a market cap of $32.51 billion and a P/E ratio of 23.68.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.84 billion. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities research analysts predict that Applied Materials Inc. will post $1.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, August 23rd.
In other news, VP Omkaram Nalamasu sold 26,035 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $30.15, for a total value of $784,955.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ali Salehpour sold 17,752 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $23.89, for a total transaction of $424,095.28. Following the completion of the transaction, the vice president now directly owns 531,195 shares of the company’s stock, valued at approximately $12,690,248.55. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Applied Materials stock. BlackRock Advisors LLC boosted its position in shares of 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 fund 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 about 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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