Stock Traders Buy High Volume of Put Options on Applied Materials (AMAT)
Applied Materials, Inc. (NASDAQ:AMAT) was the target of some unusual options trading on Wednesday. Investors bought 1,149 put options on the company. This is an increase of approximately 125% compared to the average daily volume of 510 put options.
Several equities research analysts recently commented on the company. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price target for the company in a report on Monday, July 24th. B. Riley reissued a “buy” rating and set a $56.00 target price on shares of Applied Materials in a research note on Sunday, July 16th. Cowen and Company reissued a “buy” rating and set a $50.00 target price on shares of Applied Materials in a research note on Friday, July 28th. Bank of America Corporation reissued a “buy” rating and set a $54.00 target price (up previously from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and set a $40.00 price target (up from $35.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Applied Materials has a consensus rating of “Buy” and an average price target of $51.44.
Shares of Applied Materials (AMAT) opened at 44.35 on Friday. Applied Materials has a 1-year low of $27.56 and a 1-year high of $47.86. The company has a 50-day moving average price of $44.36 and a 200-day moving average price of $42.22. The stock has a market cap of $47.30 billion, a price-to-earnings ratio of 15.77 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, equities analysts expect that Applied Materials will post $3.20 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s payout ratio is 14.18%.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of AMAT. State of Alaska Department of Revenue acquired a new position in Applied Materials in the 1st quarter worth approximately $114,000. Clean Yield Group acquired a new position in Applied Materials in the 1st quarter worth approximately $124,000. Wunderlich Capital Managemnt boosted its stake in Applied Materials by 2.9% in the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after purchasing an additional 87 shares during the period. Bessemer Group Inc. boosted its stake in Applied Materials by 145.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after purchasing an additional 1,817 shares during the period. Finally, Hanson McClain Inc. boosted its stake in Applied Materials by 4.3% in the 1st quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 79.67% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Stock Traders Buy High Volume of Put Options on Applied Materials (AMAT)” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/09/09/stock-traders-buy-high-volume-of-put-options-on-applied-materials-amat.html.
Applied Materials Company Profile
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.