Traders Buy Applied Materials, Inc. (AMAT) on Weakness
Traders purchased shares of Applied Materials, Inc. (NASDAQ:AMAT) on weakness during trading hours on Monday. $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
Several analysts have commented on AMAT shares. Credit Suisse Group reissued a “buy” rating on shares of Applied Materials in a report on Tuesday, August 29th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 target price on the stock in a research report on Monday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $52.00 target price on shares of Applied Materials in a research report on Monday, August 14th. Nomura raised their target price on Applied Materials from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Finally, DA Davidson restated a “buy” rating and issued a $55.00 target price on shares of Applied Materials in a research report on Monday, July 10th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $51.44.
The company has a 50-day moving average of $44.64 and a 200-day moving average of $41.95. The company has a market capitalization of $48.10 billion, a PE ratio of 16.03 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. Equities analysts anticipate that Applied Materials, Inc. will post $3.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.89%. Applied Materials’s dividend payout ratio is currently 14.18%.
In related news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in AMAT. State of Alaska Department of Revenue acquired a new stake in shares of Applied Materials during the first quarter valued at about $114,000. Clean Yield Group acquired a new stake in shares of Applied Materials during the first quarter valued at about $124,000. Wunderlich Capital Managemnt grew its stake in shares of Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after acquiring an additional 87 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after acquiring an additional 1,817 shares in the last quarter. Finally, Hanson McClain Inc. grew its stake in shares of Applied Materials by 4.3% during the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 79.67% of the company’s stock.
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About Applied Materials
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