Applied Materials Target of Unusually High Options Trading (AMAT)

Applied Materials, Inc. (NASDAQ:AMAT) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 2,307 call options on the company. This represents an increase of 118% compared to the average daily volume of 1,060 call options.

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in shares of Applied Materials during the first quarter worth about $371,000. Capital Management Corp VA boosted its position in shares of Applied Materials by 1.8% in the first quarter. Capital Management Corp VA now owns 231,324 shares of the manufacturing equipment provider’s stock worth $8,998,000 after buying an additional 4,076 shares during the last quarter. Oxford Asset Management purchased a new position in shares of Applied Materials during the first quarter worth about $4,956,000. Karp Capital Management Corp purchased a new position in shares of Applied Materials during the first quarter worth about $17,549,000. Finally, Outfitter Advisors LTD. boosted its position in shares of Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after buying an additional 600 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price objective for the company in a research report on Thursday. BidaskClub cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Cowen and Company reiterated a “buy” rating and set a $50.00 price objective on shares of Applied Materials in a research report on Friday, July 28th. B. Riley reiterated a “buy” rating and set a $56.00 price objective on shares of Applied Materials in a research report on Sunday, July 16th. Finally, DA Davidson reiterated a “buy” rating and set a $55.00 price objective on shares of Applied Materials in a research report on Monday, July 10th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $46.60.

Applied Materials (NASDAQ AMAT) opened at 43.08 on Friday. Applied Materials has a 52 week low of $27.00 and a 52 week high of $47.86. The company’s 50-day moving average is $44.26 and its 200 day moving average is $40.97. The company has a market capitalization of $46.30 billion, a price-to-earnings ratio of 17.82 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. Applied Materials’s revenue was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, analysts forecast that Applied Materials will post $3.11 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s payout ratio is 16.46%.

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About Applied Materials

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