Applied Materials Target of Unusually Large Options Trading (NASDAQ:AMAT)

Applied Materials, Inc. (NASDAQ:AMATGet Free Report) was the target of unusually large options trading on Tuesday. Traders bought 42,236 call options on the company. This represents an increase of 72% compared to the typical volume of 24,581 call options.

Analyst Ratings Changes

AMAT has been the topic of several analyst reports. Evercore ISI assumed coverage on Applied Materials in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 target price on the stock. TD Cowen boosted their target price on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Applied Materials in a research note on Thursday, April 11th. They issued a “hold” rating and a $225.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Finally, Mizuho raised their target price on Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $221.84.

Check Out Our Latest Stock Analysis on AMAT

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $251.47 on Wednesday. Applied Materials has a 52-week low of $129.21 and a 52-week high of $252.13. The stock has a market capitalization of $208.21 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.17 and a beta of 1.56. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $224.66 and its 200 day simple moving average is $200.17.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the previous year, the company earned $2.00 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Applied Materials will post 8.31 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.64%. Applied Materials’s payout ratio is 18.39%.

Insider Buying and Selling

In related news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the sale, the director now directly owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the sale, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Prabu G. Raja sold 50,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the sale, the insider now owns 458,417 shares in the company, valued at approximately $114,223,763.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,827 shares of company stock worth $21,382,560. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Applied Materials during the 4th quarter valued at $1,514,814,000. Swedbank AB acquired a new position in Applied Materials in the 1st quarter valued at approximately $773,611,000. Wellington Management Group LLP increased its position in shares of Applied Materials by 3,940.1% during the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock valued at $352,626,000 after purchasing an additional 2,121,912 shares during the period. Janus Henderson Group PLC boosted its stake in Applied Materials by 126.4% during the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after buying an additional 1,259,111 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Applied Materials by 123.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,976,914 shares of the manufacturing equipment provider’s stock valued at $407,699,000 after acquiring an additional 1,092,429 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Company Profile

(Get Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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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