Applied Materials Inc. (NASDAQ: AMAT) dip is a big Buy opportunity

Applied Materials Inc. (NASDAQ: AMAT) is 4.46% higher on its value in year-to-date trading and has touched a low of $36.64 and a high of $69.90 in the current 52-week trading range. The AMAT stock was last observed hovering at around $64.05 in the last trading session, with the day’s loss setting it -0.29% off its average median price target of $78.50 for the next 12 months. It is also 24.99% off the consensus price target high of $85.00 offered by 27 analysts, but current levels are -2.84% lower than the price target low of $62.00 for the same period.

Currently trading at $63.76, the stock is -1.60% and 1.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.94 million and changing -0.45% at the moment leaves the stock 10.32% off its SMA200. AMAT registered 40.10% gain for a year compared to 6-month gain of 11.86%. The firm has a 50-day simple moving average (SMA 50) of $1.76% and a 200-day simple moving average (SMA200) of $17.52M.

The stock witnessed a 2.34% loss in the last 1 month and extending the period to 3 months gives it a 16.63%, and is -3.20% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.91% over the week and 2.37% over the month.

Applied Materials Inc. (AMAT) has around 22000 employees, a market worth around $59.86B and $16.27B in sales. Current P/E ratio is 18.52 and Fwd P/E is 13.91. Profit margin for the company is 17.40%. Distance from 52-week low is 74.02% and -8.78% from its 52-week high. The company has generated returns on investments over the last 12 months (20.40%).

Applied Materials Inc. (AMAT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Applied Materials Inc. (AMAT) is a “Buy”. 27 analysts offering their recommendations for the stock have an average rating of 2.10, where 6 rate it as a Hold and 0 think it is a “Overweight”. 21 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Applied Materials Inc. is expected to release its quarterly report on 11/12/2020 and quarterly earnings per share for the current quarter are estimated at $1.17 with sales reaching $4.6B over the same period.The EPS is expected to shrink by -29.80% this year, but quarterly earnings will post 17.10% year-over-year. Quarterly sales are estimated to grow 22.60% in year-over-year returns.

Applied Materials Inc. (AMAT) Top Institutional Holders

1,636 institutions hold shares in Applied Materials Inc. (AMAT), with 3.31M shares held by insiders accounting for 0.36% while institutional investors hold 85.66% of the company’s shares. The shares outstanding are 917.00M, and float is at 913.04M with Short Float at 1.88%. Institutions hold 85.35% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 75.07 million shares valued at $4.54 billion. The investor’s holdings represent 8.22% of the AMAT Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 72.12 million shares valued at $4.36 billion to account for 7.90% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 57.25 million shares representing 6.27% and valued at over $3.46 billion, while State Street Corporation holds 4.83% of the shares totaling 44.11 million with a market value of $2.67 billion.

Applied Materials Inc. (AMAT) Insider Activity

A total of 13 insider transactions have happened at Applied Materials Inc. (AMAT) in the last six months, with sales accounting for 3 and purchases happening 10 times. The most recent transaction is an insider sale by Karsner Alexander, the company’s Director. SEC filings show that Karsner Alexander sold 3,467 shares of the company’s common stock on Jun 22 at a price of $60.50 per share for a total of $0.21 million. Following the sale, the insider now owns 7508.0 shares.

Applied Materials Inc. disclosed in a document filed with the SEC on Jun 18 that Karsner Alexander (Director) sold a total of 20,027 shares of the company’s common stock. The trade occurred on Jun 18 and was made at $60.43 per share for $1.21 million. Following the transaction, the insider now directly holds 10975.0 shares of the AMAT stock.

Still, SEC filings show that on Feb 14, Forrest Stephen R (Director) disposed off 2,000 shares at an average price of $67.40 for $0.13 million. The insider now directly holds 70,955 shares of Applied Materials Inc. (AMAT).

Applied Materials Inc. (AMAT): Who are the competitors?

The company’s main competitors (and peers) include Amtech Systems Inc. (ASYS) that is trading 4.24% up over the past 12 months. Lam Research Corporation (LRCX) is 76.10% up on the 1-year trading charts.