Applied Materials, Inc. (NASDAQ:AMAT) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 10,706,200 shares, a decrease of 30.0% from the October 13th total of 15,286,244 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 9,538,625 shares, the days-to-cover ratio is currently 1.1 days.
AMAT has been the topic of a number of recent research reports. Vetr downgraded shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $48.70 target price on the stock. in a research report on Monday, August 7th. BidaskClub downgraded shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Cowen and Company reaffirmed a “buy” rating and issued a $50.00 target price on shares of Applied Materials in a research report on Friday, July 28th. B. Riley reaffirmed a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research report on Sunday, July 16th. Finally, Deutsche Bank AG upped their target price on shares of Applied Materials from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and an average price target of $56.64.
Applied Materials (NASDAQ AMAT) opened at $56.36 on Friday. Applied Materials has a one year low of $28.24 and a one year high of $57.34. The company has a quick ratio of 2.25, a current ratio of 2.91 and a debt-to-equity ratio of 0.61. The firm has a market cap of $59,168.70, a P/E ratio of 18.62, a PEG ratio of 0.88 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the business earned $0.50 EPS. The business’s quarterly revenue was up 32.7% on a year-over-year basis. research analysts expect that Applied Materials will post 3.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the company’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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Applied Materials by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock worth $3,101,736,000 after purchasing an additional 1,721,964 shares during the period. State Street Corp lifted its stake in shares of 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 worth $2,019,939,000 after purchasing an additional 985,296 shares during the period. Capital Research Global Investors lifted its stake in shares of 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 worth $732,213,000 after purchasing an additional 2,284,836 shares during the period. Egerton Capital UK LLP lifted its stake in shares of Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after purchasing an additional 3,184,994 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Applied Materials by 7.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 13,751,324 shares of the manufacturing equipment provider’s stock worth $568,067,000 after purchasing an additional 973,818 shares during the period. Hedge funds and other institutional investors own 79.67% of the company’s stock.
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Applied Materials Company Profile
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