Traders bought shares of Applied Materials, Inc. (NASDAQ:AMAT) on weakness during trading on Monday. $176.59 million flowed into the stock on the tick-up and $148.05 million flowed out of the stock on the tick-down, for a money net flow of $28.54 million into the stock. Of all equities tracked, Applied Materials had the 24th highest net in-flow for the day. Applied Materials traded down ($0.64) for the day and closed at $60.97
Several equities research analysts have weighed in on the company. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 price objective on the stock in a research note on Monday, November 20th. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. B. Riley reissued a “buy” rating and set a $63.00 price objective on shares of Applied Materials in a research note on Monday, November 13th. JPMorgan Chase & Co. boosted their price objective on Applied Materials to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Finally, BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Twenty-six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $64.10.
The company has a market cap of $64,060.00, a PE ratio of 16.98, a PEG ratio of 1.17 and a beta of 1.58. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. sell-side analysts predict that Applied Materials, Inc. will post 4.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, May 23rd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s payout ratio is 11.14%.
Applied Materials declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total value of $2,833,698.00. The disclosure for this sale can be found here. Insiders have sold 307,716 shares of company stock valued at $15,928,746 in the last 90 days. Company insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AMAT. BlackRock Inc. lifted its holdings in Applied Materials by 1.8% during the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after buying an additional 1,248,388 shares during the period. Geode Capital Management LLC lifted its holdings in Applied Materials by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 12,968,458 shares of the manufacturing equipment provider’s stock worth $661,743,000 after buying an additional 234,528 shares during the period. Janus Henderson Group PLC lifted its holdings in Applied Materials by 5.7% during the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after buying an additional 650,755 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Applied Materials by 10.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock worth $568,507,000 after buying an additional 1,033,700 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in Applied Materials by 2.2% during the third quarter. Epoch Investment Partners Inc. now owns 10,859,674 shares of the manufacturing equipment provider’s stock worth $565,681,000 after buying an additional 235,793 shares during the period. Hedge funds and other institutional investors own 79.30% of the company’s stock.
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About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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