Traders bought shares of Applied Materials, Inc. (NASDAQ:AMAT) on weakness during trading hours on Thursday. $73.55 million flowed into the stock on the tick-up and $46.37 million flowed out of the stock on the tick-down, for a money net flow of $27.18 million into the stock. Of all equities tracked, Applied Materials had the 19th highest net in-flow for the day. Applied Materials traded down ($0.13) for the day and closed at $47.15

A number of research firms have recently commented on AMAT. UBS AG reissued a “buy” rating and issued a $52.00 target price on shares of Applied Materials in a research note on Tuesday, June 13th. B. Riley reissued a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research note on Tuesday, July 11th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 target price on the stock in a research note on Friday. KeyCorp reissued an “outperform” rating and issued a $57.00 target price on shares of Applied Materials in a research note on Saturday, September 16th. Finally, Instinet reissued a “buy” rating and issued a $50.00 target price (up from $47.00) on shares of Applied Materials in a research note on Monday, August 21st. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $51.92.

The company has a market cap of $50.95 billion, a PE ratio of 16.98 and a beta of 1.81. The company has a 50-day moving average of $44.50 and a 200-day moving average of $42.82. Applied Materials also was the recipient of unusually large options trading on Wednesday. Stock investors bought 2,307 call options on the company. This represents an increase of approximately 118% compared to the average volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company’s revenue was up 32.7% compared to the same quarter last year. On average, analysts expect that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. Applied Materials’s payout ratio is 14.18%.

In other news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction dated 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 SEC, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MPS Loria Financial Planners LLC acquired a new position in Applied Materials in the 2nd quarter worth about $109,000. Clean Yield Group acquired a new position in Applied Materials in the 1st quarter worth about $124,000. Wunderlich Capital Managemnt raised its holdings in Applied Materials by 2.9% in the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after purchasing an additional 87 shares during the period. Bessemer Group Inc. raised its holdings in Applied Materials by 145.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after purchasing an additional 1,817 shares during the period. Finally, Hanson McClain Inc. raised its holdings in Applied Materials by 4.3% in the 1st quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after purchasing an additional 139 shares during the period. 79.47% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Traders Buy Applied Materials, Inc. (AMAT) on Weakness” was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/09/22/traders-buy-applied-materials-inc-amat-on-weakness-3.html.

About Applied Materials

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.