Investors Sell Applied Materials (AMAT) on Strength (AMAT)
Traders sold shares of Applied Materials, Inc. (NASDAQ:AMAT) on strength during trading hours on Friday. $51.42 million flowed into the stock on the tick-up and $106.99 million flowed out of the stock on the tick-down, for a money net flow of $55.57 million out of the stock. Of all stocks tracked, Applied Materials had the 0th highest net out-flow for the day. Applied Materials traded up $0.17 for the day and closed at $52.06
Several brokerages recently weighed in on AMAT. Wells Fargo & Co began coverage on Applied Materials in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $65.00 price objective for the company. Credit Suisse Group reiterated a “buy” rating on shares of Applied Materials in a research report on Tuesday, August 29th. Goldman Sachs Group upgraded Applied Materials from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $52.00 in a research report on Wednesday, September 13th. Morgan Stanley reiterated an “overweight” rating on shares of Applied Materials in a research report on Thursday, September 14th. Finally, Bank of America increased their price objective on Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $60.95.
The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $55,520.00, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.01 and a beta of 1.80.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the firm earned $0.66 earnings per share. Applied Materials’s quarterly revenue was up 20.4% on a year-over-year basis. equities research analysts forecast that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 21st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, February 20th. Applied Materials’s dividend payout ratio is presently 12.62%.
In related news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AMAT. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Applied Materials during the 3rd quarter valued at approximately $105,000. MPS Loria Financial Planners LLC acquired a new position in shares of Applied Materials during the 2nd quarter worth approximately $109,000. First Personal Financial Services raised its position in shares of Applied Materials by 281.5% during the 3rd quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock worth $134,000 after purchasing an additional 1,900 shares during the last quarter. Zions Bancorporation raised its position in shares of Applied Materials by 349.1% during the 3rd quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock worth $137,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Mosaic Family Wealth LLC raised its position in shares of Applied Materials by 56.1% during the 3rd quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock worth $142,000 after purchasing an additional 984 shares during the last quarter. 79.02% of the stock is currently owned by institutional investors.
About Applied Materials
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