Columbia Management Investment Ad recently announced the acquisition of new stake in Applied Materials Inc. (NASDAQ:AMAT). The institutional investor has increased its shareholding in the Technology company by 8.10% to 10.26 million shares with purchase of 0.77 million shares. This fresh investment now brings its stake to 1.19% valued currently at $905.46 million.
With over 10.91 million Applied Materials Inc. (AMAT) shares trading Friday and a closing price of $104.70 on the day, the dollar volume was approximately $1.14 billion. The shares have shown a negative half year performance of -1.65% and its price on 11/18/22 gained nearly 0.24%. Currently, there are 864.00M common shares owned by the public and among those 857.57M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 30 analysts who have offered their price forecasts for AMAT have a consensus price objective of $115.24. The analysts have set the share’s price value over the next 12 months at a high of $140.00 and a low of $80.00. The average price target is 10.46% above its recent price level and a downside to the estimated low will see the stock lose -30.88% over that period. But an upside of 25.21% will see the stock hit the forecast high price target while median target price for the stock is $120.00.
Insiders at the company have transacted a total of 52 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 541,412 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 789,608 shares.
The top 3 mutual fund holders in Applied Materials Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market Index owns 25.71 million shares of the company’s stock, all valued at over $2.27 billion. The company bought an additional 67760.0 shares recently to bring their total holdings to about 2.99% of the shares outstanding. Vanguard 500 Index Fund bought 0.19 million shares to see its total holdings expand to 19.91 million shares valued at over $1.76 billion and representing 2.31% of the shares outstanding. Invesco QQQ Trust sold 11420.0 shares to bring its total holdings to over 12.46 million shares at a value of $1.1 billion. Invesco QQQ Trust now owns shares totaling to 1.45% of the shares outstanding.
Shares of Applied Materials Inc. (NASDAQ: AMAT) opened at $109.99, up $5.54 from a prior closing price of $104.45. However, the script later moved the day high at 110.00, up 0.24%. The company’s stock has a 5-day price change of -5.27% and 3.86% over the past three months. AMAT shares are trading -33.46% year to date (YTD), with the 12-month market performance down to -34.04% lower. It has a 12-month low price of $71.12 and touched a high of $167.06 over the same period. AMAT has an average intraday trading volume of 8.60 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.67%, 18.32%, and -1.71% respectively.
Institutional ownership of Applied Materials Inc. (NASDAQ: AMAT) shares accounts for 79.90% of the company’s 864.00M shares outstanding. Mutual fund holders own 32.74%, while other institutional holders and individual stakeholders account for 47.71% and 2.12% respectively.
It has a market capitalization of $89.86B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 14.01, while the earnings-per-share (ttm) stands at $7.47. The company has a PEG of 1.30 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.24% over the week and 4.11% over the month.
Analysts forecast that Applied Materials Inc. (AMAT) will achieve an EPS of $1.74 for the current quarter, $1.85 for the next quarter and $6.65 for 2023. The lowest estimate earnings-per-share for the quarter is $1.65 while analysts give the company a high EPS estimate of $2.03. Comparatively, EPS for the current quarter was $1.94 a year ago. Earnings per share for the fiscal year are expected to increase by 63.40%, and -6.17% over the next financial year. EPS should shrink at an annualized rate of 10.80% over the next five years, compared to 33.00% over the past 5-year period.
William Blair was of a view on October 17, 2022 that the stock is Mkt Perform, while Needham gave the stock Buy rating on August 19, 2022, issuing a price target of $130- $125. Cowen on their part issued Outperform rating on August 19, 2022.