Traders Purchase High Volume of Applied Materials Put Options (AMAT)
Applied Materials, Inc. (NASDAQ:AMAT) saw some unusual options trading activity on Wednesday. Investors purchased 1,149 put options on the stock. This is an increase of 125% compared to the typical daily volume of 510 put options.
Applied Materials (AMAT) opened at 47.77 on Friday. Applied Materials has a 1-year low of $27.56 and a 1-year high of $48.53. The stock’s 50 day moving average price is $44.50 and its 200 day moving average price is $42.82. The stock has a market capitalization of $50.95 billion, a PE ratio of 16.98 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. 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 business posted $0.50 EPS. Equities research analysts forecast that Applied Materials will post $3.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.84%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is currently 14.18%.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. MPS Loria Financial Planners LLC bought a new position in Applied Materials in the 2nd quarter worth approximately $109,000. Clean Yield Group bought a new position in Applied Materials in the 1st quarter worth approximately $124,000. Wunderlich Capital Managemnt increased its position 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 buying an additional 87 shares during the period. Bessemer Group Inc. increased its position 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 buying an additional 1,817 shares during the period. Finally, Hanson McClain Inc. increased its position 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 buying an additional 139 shares during the period. 79.47% of the stock is currently owned by institutional investors.
Several brokerages have commented on AMAT. Zacks Investment Research lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Bank of America Corporation restated a “buy” rating and set a $65.00 target price (up from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. Morgan Stanley restated an “overweight” rating and set a $52.00 target price on shares of Applied Materials in a research report on Monday, August 14th. B. Riley restated a “buy” rating and set a $61.00 target price on shares of Applied Materials in a research report on Saturday, August 19th. Finally, Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 price objective on the stock in a research report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $52.69.
About Applied Materials
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