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Shares of Applied Materials (NASDAQ:AMAT) were the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 72,718,443 shares, a decline of 4.1% from the July 31st total of 75,851,986 shares, AnalystRatings.NET reports. Based on an average daily volume of 11,529,443 shares, the days-to-cover ratio is presently 6.3 days. Approximately 6.0% of the shares of the stock are sold short.

AMAT has been the subject of a number of recent research reports. Analysts at S&P Equity Research reiterated a “strong-buy” rating on shares of Applied Materials in a research note on Thursday, August 21st. Separately, analysts at Argus reiterated a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 19th. They now have a $22.10 price target on the stock, down previously from $25.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Applied Materials in a research note on Friday, August 15th. They now have a $22.00 price target on the stock. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $24.32.

Shares of Applied Materials (NASDAQ:AMAT) opened at 23.105 on Tuesday. Applied Materials has a one year low of $14.99 and a one year high of $23.46. The stock’s 50-day moving average is $21.89 and its 200-day moving average is $20.62. The company has a market cap of $28.151 billion and a P/E ratio of 28.15.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.29 billion. Analysts expect that Applied Materials will post $1.06 EPS for the current fiscal year.

Applied Materials, Inc (NASDAQ:AMAT) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.

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