Applied Materials Inc. (AMAT) Stock Price Down 1%
Applied Materials Inc. (NASDAQ:AMAT) fell 1% during mid-day trading on Friday . The stock traded as low as $29.96 and last traded at $29.98, with a volume of 5,510,125 shares. The stock had previously closed at $30.29.
Several research firms recently issued reports on AMAT. B. Riley reiterated a “buy” rating and issued a $27.00 price objective on shares of Applied Materials in a report on Tuesday, July 5th. Pacific Crest reiterated a “buy” rating on shares of Applied Materials in a report on Sunday, May 22nd. Morgan Stanley reiterated a “buy” rating on shares of Applied Materials in a report on Sunday, May 22nd. Stifel Nicolaus lifted their price objective on Applied Materials from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, May 27th. Finally, Summit Redstone reiterated a “buy” rating on shares of Applied Materials in a report on Wednesday, June 29th. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $30.11.
The company has a market capitalization of $32.51 billion and a PE ratio of 23.68. The firm’s 50 day moving average price is $27.65 and its 200 day moving average price is $23.07.
Applied Materials (NASDAQ:AMAT) last issued 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. The business earned $2.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Equities analysts predict that Applied Materials Inc. will post $1.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Tuesday, August 23rd.
In other news, VP Ali Salehpour sold 17,752 shares of the firm’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $23.89, for a total value of $424,095.28. Following the transaction, the vice president now owns 531,195 shares of the company’s stock, valued at approximately $12,690,248.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Omkaram Nalamasu sold 26,035 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were 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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