Applied Materials Inc (NASDAQ:AMAT) near 52-week low, short interest down

Applied Materials Inc (NASDAQ:AMAT) (TREND ANALYSIS) shares were traded with more than 50% increase in usual volume. The stock closed last trading session at $20.2, up by 1.71%, with a volume of 55,400,664 shares against an average volume for the last 3 months of 22,464,500.

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AMAT reported last quarter earnings on May 14. The Semiconductor Equipment company announced earnings per share of $0.29 against a consensus Street estimate of $0.28, beating the average estimate by $0.01. This corresponds to an increase of $0.06 compared to the same quarter of the previous fiscal year.

Applied Materials Inc (NASDAQ:AMAT) is currently trading 21.43% below its 52-week-high, 8.43% above its 52-week-low. The 1-year range for the stock is $18.63 – $25.71. Applied Materials Inc (AMAT) has a price to earnings ratio of 21.49 versus Technology sector average of 16.6. AMAT stock price has underperformed the Nasdaq by 24.7%. The Semiconductor Equipment company is currently valued at $24.82 billion and its share price closed the last trading session at $20.2. The stock has a 50-day moving average of $21.22 and a 200-day moving average of $23.15.

Applied Materials Inc (AMAT) current short interest stands at 77.09 million shares. It has decreased by 1% from the same period of last month. Around 7% of the company’s shares, which are float, are short sold. With a 10-days average volume of 24.83 million shares, the number of days required to cover the short positions stand at 3.2 days.

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There are currently twenty-five analysts that cover AMAT stock. Of those twenty-five, seventeen have a Buy rating, seven have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $23.86.

A recent analyst activity consisted of Citigroup reiterating their Buy stance on May 6. Citigroup decreased price target from $35 to $27. This corresponds to a 33.66% upside from the last closing price. On the date of report, the stock closed at $19.45.

Pacific Crest reiterated their Overweight stance on April 28, and decreased their price target from $29 to $27. This corresponds to a 33.66% upside from the last closing price. On the date of report, the stock closed at $20.04.

Another research firm was Stifel Nicolaus who reiterated their Buy stance on April 28. Stifel Nicolaus decreased price target from $29 to $24. This translates to a 18.81% upside from the last closing price. On the date of report, the stock closed at $20.04.

Company profile

Applied Materials, Inc. develops, manufactures, markets, and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. The Company’s customers include semiconductor wafer and integrated circuit manufacturers, flat panel liquid crystal displays, solar photovoltaic cells and modules and other electronic devices manufacturers.

Applied Materials Inc (NASDAQ:AMAT) near 52-week low, short interest down was last modified: May 18th, 2015 by Jason Seligman