Applied Materials, Inc. (NASDAQ:AMAT) Sees Significant Drop in Short Interest

Applied Materials, Inc. (NASDAQ:AMATGet Free Report) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 16,780,000 shares, a drop of 22.6% from the January 15th total of 21,690,000 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 5,920,000 shares, the days-to-cover ratio is presently 2.8 days.

Insider Buying and Selling

In other Applied Materials news, SVP Omkaram Nalamasu sold 23,228 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $162.45, for a total value of $3,773,388.60. Following the sale, the senior vice president now owns 190,972 shares of the company’s stock, valued at approximately $31,023,401.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Applied Materials

A number of hedge funds and other institutional investors have recently modified their holdings of AMAT. Financial Freedom LLC bought a new position in shares of Applied Materials during the fourth quarter worth $25,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Applied Materials during the fourth quarter worth $27,000. Mcmillion Capital Management Inc. bought a new position in shares of Applied Materials during the second quarter worth $29,000. CGC Financial Services LLC purchased a new stake in Applied Materials during the second quarter valued at $29,000. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 77.24% of the company’s stock.

Applied Materials Stock Performance

AMAT opened at $185.54 on Tuesday. The firm has a market cap of $154.38 billion, a P/E ratio of 22.88, a PEG ratio of 3.67 and a beta of 1.55. Applied Materials has a 1-year low of $109.00 and a 1-year high of $188.21. The company has a 50 day simple moving average of $160.93 and a two-hundred day simple moving average of $149.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.60 and a quick ratio of 1.82.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.14. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.52 billion. Applied Materials had a net margin of 25.85% and a return on equity of 46.12%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 earnings per share. Equities analysts forecast that Applied Materials will post 7.61 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 22nd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.69%. Applied Materials’s dividend payout ratio is 15.78%.

Wall Street Analysts Forecast Growth

AMAT has been the topic of a number of research reports. B. Riley lifted their target price on shares of Applied Materials from $175.00 to $220.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen lifted their target price on shares of Applied Materials from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Morgan Stanley lifted their price target on shares of Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday. Mizuho lifted their price target on shares of Applied Materials from $162.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Applied Materials from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $171.50.

Check Out Our Latest Stock Analysis on AMAT

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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