Applied Materials Inc. (AMAT) Insider Sells $6,831,368.85 in Stock
Applied Materials Inc. (NASDAQ:AMAT) insider Gary E. Dickerson sold 229,935 shares of the business’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $29.71, for a total transaction of $6,831,368.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Applied Materials Inc. (NASDAQ:AMAT) opened at 28.64 on Wednesday. The stock’s 50 day moving average price is $29.81 and its 200-day moving average price is $25.09. Applied Materials Inc. has a 12 month low of $15.07 and a 12 month high of $31.07. The stock has a market cap of $30.96 billion, a price-to-earnings ratio of 22.59 and a beta of 1.84.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm earned $2.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Equities research analysts predict that Applied Materials Inc. will post $1.75 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 31.25%.
A number of analysts have recently issued reports on AMAT shares. B. Riley reissued a “buy” rating and set a $27.00 target price on shares of Applied Materials in a research note on Tuesday, July 5th. Summit Redstone reissued a “buy” rating on shares of Applied Materials in a research note on Wednesday, June 29th. S&P Equity Research set a $31.00 target price on shares of Applied Materials and gave the company a “hold” rating in a research note on Sunday, August 21st. Finally, Vetr lowered shares of Applied Materials from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Thursday, June 23rd. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.20.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position 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 valued at $781,907,000 after buying an additional 12,881,391 shares during the period. Winslow Capital Management LLC purchased a new position in Applied Materials during the second quarter valued at approximately $173,715,000. Emerald Acquisition Ltd. purchased a new position in Applied Materials during the second quarter valued at approximately $113,508,000. Old Mutual Global Investors UK Ltd. purchased a new position in Applied Materials during the second quarter valued at approximately $74,805,000. Finally, UBS Asset Management Americas Inc. raised its position in Applied Materials by 68.0% in the second quarter. UBS Asset Management Americas Inc. now owns 7,110,558 shares of the manufacturing equipment provider’s stock valued at $170,439,000 after buying an additional 2,876,969 shares during the period. 82.20% of the stock is currently owned by 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.
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