Applied Materials (NASDAQ:AMAT) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 16,058,256 shares, an increase of 16.8% from the February 15th total of 13,749,441 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 16,976,156 shares, the days-to-cover ratio is presently 0.9 days.
AMAT has been the topic of a number of recent research reports. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.00 target price on the stock. in a research note on Wednesday, January 17th. B. Riley restated a “buy” rating and issued a $71.00 target price on shares of Applied Materials in a research note on Tuesday, January 16th. ValuEngine upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus upped their price target on Applied Materials from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Twenty-five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.42.
Shares of Applied Materials stock traded down $2.72 during mid-day trading on Monday, reaching $52.89. 20,892,017 shares of the stock traded hands, compared to its average volume of 15,208,797. Applied Materials has a fifty-two week low of $37.41 and a fifty-two week high of $62.40. The stock has a market capitalization of $58,428.71, a P/E ratio of 16.27, a PEG ratio of 0.95 and a beta of 1.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. research analysts anticipate that Applied Materials will post 4.41 EPS for the current fiscal year.
Applied Materials declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio is presently 12.31%.
In other news, Director Thomas J. Iannotti sold 15,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $61.47, for a total value of $922,050.00. Following the sale, the director now owns 76,967 shares in the company, valued at $4,731,161.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen R. Forrest sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,466 shares of company stock worth $3,970,428. Company insiders own 0.35% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its holdings in shares of Applied Materials by 9.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock valued at $23,607,000 after purchasing an additional 38,960 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Applied Materials by 1.1% in the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after purchasing an additional 64,186 shares during the last quarter. Elite Wealth Management Inc. acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $635,000. Janus Henderson Group PLC increased its holdings in shares of Applied Materials by 5.7% in the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after purchasing an additional 650,755 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Applied Materials by 25.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock valued at $2,547,000 after purchasing an additional 10,200 shares during the last quarter. 79.29% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “Short Interest in Applied Materials (NASDAQ:AMAT) Rises By 16.8%” was first published by Enterprise Leader and is the property of of Enterprise Leader. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://theenterpriseleader.com/2018/04/02/short-interest-in-applied-materials-nasdaqamat-grows-by-16-8.html.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.