Investors Buy Applied Materials, Inc. (AMAT) on Weakness
Investors bought shares of Applied Materials, Inc. (NASDAQ:AMAT) on weakness during trading hours on Monday. $151.34 million flowed into the stock on the tick-up and $138.95 million flowed out of the stock on the tick-down, for a money net flow of $12.39 million into the stock. Of all companies tracked, Applied Materials had the 28th highest net in-flow for the day. Applied Materials traded down ($0.01) for the day and closed at $52.08
Several research analysts recently weighed in on AMAT shares. Stifel Nicolaus reaffirmed a “buy” rating on shares of Applied Materials in a research report on Sunday. B. Riley reissued a “buy” rating and set a $63.00 price target on shares of Applied Materials in a research report on Saturday. Instinet reissued a “buy” rating and set a $55.00 price target (up previously from $50.00) on shares of Applied Materials in a research report on Saturday. Evercore ISI reissued an “outperform” rating and set a $65.00 price target (up previously from $56.00) on shares of Applied Materials in a research report on Saturday. Finally, Nomura upped their price target on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.31.
The company has a market cap of $55.29 billion, a price-to-earnings ratio of 18.43 and a beta of 1.86. The stock’s 50 day moving average price is $46.13 and its 200 day moving average price is $43.62.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates 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 was up 32.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. Equities research analysts forecast that Applied Materials, Inc. 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. Stockholders of record on Friday, November 24th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.77%. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.
In other news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were 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 currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in AMAT. Vanguard Group Inc. increased its stake in Applied Materials by 2.3% during the second quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock valued at $3,101,736,000 after acquiring an additional 1,721,964 shares during the period. BlackRock Inc. raised its holdings in Applied Materials by 2,063.7% in the 1st quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after acquiring an additional 63,912,660 shares in the last quarter. State Street Corp raised its holdings in Applied Materials by 2.1% in the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock valued at $2,019,939,000 after acquiring an additional 985,296 shares in the last quarter. FMR LLC raised its holdings in Applied Materials by 16.8% in the 1st quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after acquiring an additional 4,604,275 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in Applied Materials by 14.8% in the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after acquiring an additional 2,284,836 shares in the last quarter. 79.47% of the stock is currently owned by institutional investors and hedge funds.
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About Applied Materials
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