Traders Buy Applied Materials, Inc. (AMAT) on Weakness
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.
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About Applied Materials
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