Investors bought shares of Applied Materials, Inc. (NASDAQ:AMAT) on weakness during trading on Monday following insider selling activity. $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 stocks 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 $60.97Specifically, Director Stephen R. Forrest sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Iannotti sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the transaction, the director now directly owns 76,967 shares of the company’s stock, valued at $4,731,161.49. The disclosure for this sale can be found here. Insiders have sold a total of 322,716 shares of company stock valued at $16,850,796 over the last three months. 0.35% of the stock is currently owned by insiders.
A number of research firms have issued reports on AMAT. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 price target for the company in a research report on Monday, November 20th. Zacks Investment Research lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Applied Materials to $70.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Finally, Deutsche Bank raised their price target on shares of Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Twenty-six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.10.
The stock has a market capitalization of $64,060.39, a P/E ratio of 16.75, a PEG ratio of 1.16 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.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is currently 15.09%.
Applied Materials announced that its board has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its stake in Applied Materials by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock valued at $23,607,000 after acquiring an additional 38,960 shares during the period. Prudential Financial Inc. grew its stake in Applied Materials by 1.1% in the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after acquiring an additional 64,186 shares during the period. Elite Wealth Management Inc. acquired a new stake in Applied Materials in the 4th quarter valued at $635,000. Janus Henderson Group PLC grew its stake in Applied Materials by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after acquiring an additional 650,755 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Applied Materials by 25.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock valued at $2,547,000 after acquiring an additional 10,200 shares during the period. 79.30% of the stock is currently owned by hedge funds and other institutional investors.
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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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