Investors Buy Applied Materials Inc. (AMAT) on Weakness
Investors bought shares of Applied Materials Inc. (NASDAQ:AMAT) on weakness during trading hours 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 companies 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
AMAT has been the subject of several research reports. B. Riley reiterated an “amat ($29.20” rating and set a $39.00 price objective on shares of Applied Materials in a research note on Sunday, August 21st. Cowen and Company reiterated a “buy” rating on shares of Applied Materials in a research note on Sunday, May 22nd. Bank of America Corp. reiterated a “buy” rating on shares of Applied Materials in a research note on Sunday, May 22nd. Pacific Crest reiterated a “buy” rating on shares of Applied Materials in a research note on Sunday, May 22nd. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $26.00 price objective on shares of Applied Materials in a research note on Sunday, May 22nd. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Applied Materials presently has an average rating of “Buy” and an average target price of $30.11.
The company’s 50 day moving average price is $27.65 and its 200-day moving average price is $23.07. The stock has a market capitalization of $32.45 billion and a P/E ratio of 23.68.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities research analysts predict that Applied Materials Inc. will post $1.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be issued 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 Applied Materials news, VP Omkaram Nalamasu sold 26,035 shares of Applied Materials stock in a transaction on Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. 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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