Applied Materials (NASDAQ:AMAT) Sees Unusually-High Trading Volume After Analyst Upgrade


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Applied Materials, Inc. (NASDAQ:AMAT) shares saw an uptick in trading volume on Tuesday after Barclays raised their price target on the stock from $125.00 to $150.00. 189,613 shares traded hands during trading, a decline of 98% from the previous session’s volume of 9,426,406 shares.The stock last traded at $144.84 and had previously closed at $143.05.

A number of other brokerages also recently commented on AMAT. Royal Bank of Canada raised their price objective on shares of Applied Materials from $95.00 to $140.00 in a research report on Friday, February 19th. Evercore ISI increased their price target on shares of Applied Materials from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, February 19th. Argus upped their target price on shares of Applied Materials from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Sanford C. Bernstein began coverage on shares of Applied Materials in a research report on Tuesday, March 30th. They set an “outperform” rating and a $160.00 price target for the company. Finally, KeyCorp upped their price target on Applied Materials from $144.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Applied Materials currently has an average rating of “Buy” and a consensus target price of $140.36.

In other news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total value of $1,979,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Applied Materials in the 4th quarter valued at $1,096,543,000. FMR LLC raised its holdings in shares of Applied Materials by 65.6% during the 4th quarter. FMR LLC now owns 15,966,445 shares of the manufacturing equipment provider’s stock valued at $1,377,905,000 after buying an additional 6,325,128 shares during the period. Assenagon Asset Management S.A. lifted its position in Applied Materials by 12,486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,892,762 shares of the manufacturing equipment provider’s stock worth $163,345,000 after acquiring an additional 1,877,724 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Applied Materials by 44.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 6,003,934 shares of the manufacturing equipment provider’s stock valued at $518,140,000 after acquiring an additional 1,853,260 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $146,573,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

The company has a current ratio of 3.00, a quick ratio of 2.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $127.68 billion, a PE ratio of 35.49, a P/E/G ratio of 2.06 and a beta of 1.48. The company’s 50 day moving average is $120.69 and its 200-day moving average is $91.29.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.11. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, analysts forecast that Applied Materials, Inc. will post 4.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, May 27th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, May 26th. This is a positive change from Applied Materials’s previous quarterly dividend of $0.22. Applied Materials’s payout ratio is 21.10%.

Applied Materials Company Profile (NASDAQ:AMAT)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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