Applied Materials Inc. (AMAT) Short Interest Up 13.5% in September
Applied Materials Inc. (NASDAQ:AMAT) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 14,620,376 shares, a growth of 13.5% from the August 31st total of 12,875,973 shares. Based on an average daily volume of 12,814,636 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.4% of the shares of the stock are sold short.
Several analysts have recently commented on AMAT shares. B. Riley reaffirmed an “amat ($29.20” rating and set a $39.00 price target on shares of Applied Materials in a research report on Sunday, August 21st. Bank of America Corp. reaffirmed a “buy” rating on shares of Applied Materials in a research report on Monday, June 6th. Goldman Sachs Group Inc. lifted their price target on shares of Applied Materials from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, June 2nd. Credit Suisse Group AG reiterated a “buy” rating on shares of Applied Materials in a report on Friday, June 10th. Finally, Nomura reiterated a “buy” rating and issued a $28.00 target price (up previously from $25.00) on shares of Applied Materials in a report on Thursday, June 23rd. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Applied Materials has a consensus rating of “Buy” and an average target price of $30.72.
In other news, VP Omkaram Nalamasu sold 26,035 shares of Applied Materials stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $30.15, for a total transaction of $784,955.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of AMAT. Thompson Davis & CO. Inc. increased its stake in shares of Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock valued at $101,000 after buying an additional 2,418 shares in the last quarter. TLP Group LLC bought a new stake in Applied Materials during the second quarter worth approximately $105,000. Clean Yield Group increased its stake in Applied Materials by 16.5% in the second quarter. Clean Yield Group now owns 4,950 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 700 shares during the period. First PREMIER Bank bought a new stake in Applied Materials during the second quarter worth approximately $120,000. Finally, NEXT Financial Group Inc increased its stake in Applied Materials by 406.1% in the second quarter. NEXT Financial Group Inc now owns 6,605 shares of the manufacturing equipment provider’s stock worth $158,000 after buying an additional 5,300 shares during the period. Hedge funds and other institutional investors own 82.20% of the company’s stock.
Applied Materials (NASDAQ:AMAT) opened at 29.74 on Thursday. The firm has a market capitalization of $32.15 billion, a price-to-earnings ratio of 23.45 and a beta of 1.79. Applied Materials has a 12 month low of $14.44 and a 12 month high of $31.07. The firm’s 50-day moving average is $29.30 and its 200 day moving average is $24.48.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. Applied Materials’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. Equities analysts predict that Applied Materials will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.34%. Applied Materials’s dividend payout ratio is presently 31.25%.
Applied Materials Company Profile
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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