Applied Materials Inc. (NASDAQ:AMAT) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 14,620,376 shares, a growth of 13.5% from the August 31st total of 12,875,973 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 12,814,636 shares, the days-to-cover ratio is presently 1.1 days.
Applied Materials (NASDAQ:AMAT) opened at 29.94 on Thursday. Applied Materials has a 52-week low of $15.07 and a 52-week high of $31.07. The firm’s 50-day moving average is $29.70 and its 200 day moving average is $24.83. The firm has a market capitalization of $32.36 billion, a P/E ratio of 23.61 and a beta of 1.84.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The firm earned $2.82 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts anticipate that Applied Materials will post $1.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is presently 31.25%.
Several analysts have issued reports on AMAT shares. Credit Suisse Group AG upped their price objective on Applied Materials from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, August 9th. Citigroup Inc. upped their price objective on Applied Materials from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Morgan Stanley restated a “buy” rating and set a $25.00 price objective on shares of Applied Materials in a research note on Tuesday, August 16th. RBC Capital Markets restated a “sector perform” rating on shares of Applied Materials in a research note on Friday, September 23rd. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $33.00 price objective on shares of Applied Materials in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.72.
In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Omkaram Nalamasu sold 26,035 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $30.15, for a total value of $784,955.25. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Applied Materials by 65.3% in the second quarter. FMR LLC now owns 32,620,245 shares of the manufacturing equipment provider’s stock worth $781,907,000 after buying an additional 12,881,391 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Applied Materials during the second quarter worth approximately $173,715,000. Emerald Acquisition Ltd. acquired a new stake in Applied Materials during the second quarter worth approximately $113,508,000. Old Mutual Global Investors UK Ltd. acquired a new stake in Applied Materials during the second quarter worth approximately $74,805,000. Finally, TIAA CREF Investment Management LLC raised its stake in Applied Materials by 35.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,948,114 shares of the manufacturing equipment provider’s stock worth $231,881,000 after buying an additional 2,885,695 shares in the last quarter. 82.20% of the stock is owned by hedge funds and other institutional investors.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.