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 dated Friday, October 7th. The stock was sold at an average price of $29.71, for a total transaction of $6,831,368.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Applied Materials Inc. (NASDAQ:AMAT) opened at 28.64 on Wednesday. The stock has a 50 day moving average of $29.81 and a 200-day moving average of $25.09. The stock has a market cap of $30.96 billion, a PE ratio of 22.59 and a beta of 1.84. Applied Materials Inc. has a 52 week low of $15.07 and a 52 week high of $31.07.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts predict that Applied Materials Inc. will post $1.75 earnings per share for the current fiscal year.
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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is currently 31.25%.
Several research analysts recently weighed in on the stock. B. Riley restated a “buy” rating and set a $27.00 price target on shares of Applied Materials in a report on Tuesday, July 5th. Summit Redstone restated a “buy” rating on shares of Applied Materials in a report on Wednesday, June 29th. S&P Equity Research set a $31.00 price target on shares of Applied Materials and gave the stock a “hold” rating in a report on Sunday, August 21st. Finally, Nomura restated a “buy” rating and set a $31.00 price target on shares of Applied Materials in a report on Thursday, September 22nd. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $31.20.
Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its stake in Applied Materials by 0.8% in the first quarter. Lazard Asset Management LLC now owns 14,935,512 shares of the manufacturing equipment provider’s stock valued at $316,333,000 after buying an additional 124,092 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Applied Materials during the first quarter valued at about $679,000. Rafferty Asset Management LLC boosted its stake in Applied Materials by 198.5% in the first quarter. Rafferty Asset Management LLC now owns 179,854 shares of the manufacturing equipment provider’s stock valued at $3,809,000 after buying an additional 119,609 shares during the last quarter. Cupps Capital Management LLC bought a new stake in Applied Materials during the first quarter valued at about $1,921,000. Finally, BB&T Securities LLC bought a new stake in Applied Materials during the first quarter valued at about $7,196,000. 82.20% of the stock is currently owned by institutional investors and hedge funds.
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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