Applied Materials, Inc. (AMAT) Short Interest Up 16.8% in February
Applied Materials, Inc. (NASDAQ:AMAT) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 16,058,256 shares, a growth of 16.8% from the February 15th total of 13,749,441 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 16,976,156 shares, the short-interest ratio is presently 0.9 days.
In related news, Director Stephen R. Forrest sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total value of $214,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Insiders sold 307,716 shares of company stock valued at $15,928,746 in the last three months. 0.35% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMAT. Lansdowne Partners UK LLP acquired a new position in Applied Materials during the fourth quarter valued at $370,984,000. Jackson Square Partners LLC acquired a new position in Applied Materials during the fourth quarter valued at $284,833,000. First Eagle Investment Management LLC acquired a new position in Applied Materials during the third quarter valued at $97,804,000. Macquarie Group Ltd. lifted its position in Applied Materials by 631.8% during the fourth quarter. Macquarie Group Ltd. now owns 1,962,471 shares of the manufacturing equipment provider’s stock valued at $100,438,000 after purchasing an additional 1,694,283 shares during the period. Finally, BlackRock Inc. lifted its position in Applied Materials by 1.8% during the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock valued at $3,521,655,000 after purchasing an additional 1,248,388 shares during the period. Institutional investors own 78.33% of the company’s stock.
Shares of Applied Materials (NASDAQ:AMAT) opened at $61.61 on Friday. The firm has a market cap of $67,180.00, a price-to-earnings ratio of 17.16, a PEG ratio of 1.13 and a beta of 1.58. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62. Applied Materials has a 1-year low of $37.41 and a 1-year high of $61.76.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same period in the previous year, the firm posted $0.67 earnings per share. analysts predict that Applied Materials will post 4.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 23rd. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. Applied Materials’s payout ratio is currently 11.14%.
Applied Materials declared that its board has initiated a share repurchase plan on Wednesday, February 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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