Applied Materials, Inc. (AMAT) Sets New 12-Month High at $48.22

Applied Materials, Inc. (NASDAQ:AMAT) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.22 and last traded at $48.24, with a volume of 6,397,200 shares traded. The stock had previously closed at $47.14.

AMAT has been the subject of several recent analyst reports. Craig Hallum raised their target price on shares of Applied Materials to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Credit Suisse Group restated a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $48.00 target price (up previously from $46.00) on shares of Applied Materials in a research note on Sunday, August 20th. DA Davidson restated a “buy” rating and issued a $55.00 target price on shares of Applied Materials in a research note on Monday, July 10th. Finally, UBS AG restated a “buy” rating and issued a $52.00 target price on shares of Applied Materials in a research note on Tuesday, June 13th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Applied Materials has a consensus rating of “Buy” and an average price target of $51.86.

The stock has a 50-day moving average price of $44.50 and a 200 day moving average price of $42.82. The firm has a market capitalization of $51.47 billion, a P/E ratio of 17.16 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the company earned $0.50 EPS. Applied Materials’s revenue was up 32.7% on a year-over-year basis. On average, equities analysts expect that Applied Materials, Inc. will post $3.20 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s payout ratio is 14.18%.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. MPS Loria Financial Planners LLC acquired a new stake in Applied Materials in the 2nd quarter valued at about $109,000. Clean Yield Group acquired a new stake in Applied Materials in the 1st quarter valued at about $124,000. Wunderlich Capital Managemnt lifted its holdings in Applied Materials by 2.9% in the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after acquiring an additional 87 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Applied Materials by 145.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after acquiring an additional 1,817 shares during the last quarter. Finally, Hanson McClain Inc. lifted its holdings in Applied Materials by 4.3% in the 1st quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after acquiring an additional 139 shares during the last quarter. 79.47% of the stock is owned by institutional investors.

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About Applied Materials

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