Traders purchased shares of Applied Materials, Inc. (NASDAQ:AMAT) on weakness during trading on Friday. $291.17 million flowed into the stock on the tick-up and $108.98 million flowed out of the stock on the tick-down, for a money net flow of $182.19 million into the stock. Of all companies tracked, Applied Materials had the 19th highest net in-flow for the day. Applied Materials traded down ($0.84) for the day and closed at $59.44
AMAT has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Applied Materials from $55.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Credit Suisse Group lifted their price objective on Applied Materials from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Needham & Company LLC lifted their price objective on Applied Materials to $66.00 and gave the company a “positive” rating in a research note on Friday, November 17th. Deutsche Bank boosted their price target on Applied Materials from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, JPMorgan Chase & Co. boosted their price target on Applied Materials to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Twenty-six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $64.10.
The firm has a market capitalization of $63,282.88, a PE ratio of 22.43, a P/E/G ratio of 1.14 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same quarter in the prior year, the business earned $0.67 earnings per share. analysts anticipate that Applied Materials, Inc. will post 4.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, May 23rd. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio is 15.09%.
Applied Materials announced that its board has approved a share repurchase plan on Wednesday, February 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Iannotti sold 15,000 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $61.47, for a total value of $922,050.00. Following the sale, the director now directly owns 76,967 shares of the company’s stock, valued at approximately $4,731,161.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 322,716 shares of company stock valued at $16,850,796. 0.35% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. SevenBridge Financial Group LLC grew its holdings in Applied Materials by 957.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock valued at $122,000 after purchasing an additional 2,155 shares during the period. HM Payson & Co. grew its holdings in Applied Materials by 65.1% during the fourth quarter. HM Payson & Co. now owns 216,772 shares of the manufacturing equipment provider’s stock valued at $11,081,000 after purchasing an additional 85,438 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Applied Materials by 48.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 61,500 shares of the manufacturing equipment provider’s stock valued at $3,144,000 after purchasing an additional 20,200 shares during the period. HighPoint Advisor Group LLC grew its holdings in Applied Materials by 68.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 6,042 shares of the manufacturing equipment provider’s stock valued at $299,000 after purchasing an additional 2,457 shares during the period. Finally, Vanguard Capital Wealth Advisors bought a new stake in Applied Materials during the fourth quarter valued at about $1,313,000. 79.30% of the stock is owned by institutional investors and hedge funds.
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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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