Investors Buy Shares of Applied Materials, Inc. (AMAT) on Weakness
Traders purchased shares of Applied Materials, Inc. (NASDAQ:AMAT) on weakness during trading on Friday. $51.56 million flowed into the stock on the tick-up and $34.15 million flowed out of the stock on the tick-down, for a money net flow of $17.41 million into the stock. Of all companies tracked, Applied Materials had the 23rd highest net in-flow for the day. Applied Materials traded down ($0.02) for the day and closed at $45.10
AMAT has been the subject of several recent analyst reports. Deutsche Bank AG restated a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Bank of America Corporation restated a “buy” rating and set a $54.00 target price (up previously from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Stifel Nicolaus boosted their target price on Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. Susquehanna Bancshares Inc restated a “neutral” rating and set a $40.00 target price (up previously from $35.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price for the company in a research report on Thursday, June 29th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $51.44.
The firm has a market cap of $48.10 billion, a price-to-earnings ratio of 16.03 and a beta of 1.81. The stock has a 50-day moving average price of $44.64 and a 200 day moving average price of $41.95.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. On average, analysts anticipate that Applied Materials, Inc. will post $3.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.89%. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.
In other news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in AMAT. Fisher Asset Management LLC purchased a new stake in Applied Materials during the first quarter valued at about $371,000. Oxford Asset Management purchased a new stake in Applied Materials during the first quarter valued at about $4,956,000. Karp Capital Management Corp purchased a new stake in Applied Materials during the first quarter valued at about $17,549,000. Outfitter Advisors LTD. boosted its stake in Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock valued at $1,572,000 after buying an additional 600 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Applied Materials during the first quarter valued at about $113,715,000. 79.05% of the stock is owned by institutional investors and hedge funds.
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