Traders Buy Applied Materials Inc. (AMAT) on Weakness
Investors purchased shares of Applied Materials Inc. (NASDAQ:AMAT) on weakness during trading on Friday. $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 equities tracked, Applied Materials had the 50th highest net in-flow for the day. Applied Materials traded down ($0.27) for the day and closed at $30.02
Several analysts recently commented on AMAT shares. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $22.02 price objective for the company in a research note on Thursday, May 12th. B. Riley reiterated a “neutral” rating and issued a $19.50 price objective on shares of Applied Materials in a research note on Monday, May 16th. Zacks Investment Research cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, May 18th. Cowen and Company raised their price objective on shares of Applied Materials from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, May 20th. Finally, Royal Bank Of Canada raised their price objective on shares of Applied Materials from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 20th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Applied Materials currently has an average rating of “Buy” and an average price target of $30.11.
The company has a market cap of $32.51 billion and a PE ratio of 23.68. The stock has a 50-day moving average price of $27.65 and a 200 day moving average price of $23.07.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. The business’s revenue was up 13.3% compared to the same quarter last year. On average, equities analysts expect that Applied Materials Inc. will post $1.75 EPS for the current year.
The business also recently announced 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. 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, VP Ali Salehpour sold 35,505 shares of the company’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $24.06, for a total transaction of $854,250.30. Following the completion of the sale, the vice president now directly owns 495,691 shares in the company, valued at approximately $11,926,325.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Omkaram Nalamasu sold 26,035 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $30.15, for a total value of $784,955.25. 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 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. 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 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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