Applied Materials (NASDAQ:AMAT) Trading 1% Higher

Applied Materials, Inc. (NASDAQ:AMATGet Free Report) traded up 1% during mid-day trading on Thursday . The stock traded as high as $244.72 and last traded at $243.31. 2,768,843 shares were traded during trading, a decline of 47% from the average session volume of 5,211,725 shares. The stock had previously closed at $240.86.

Analyst Ratings Changes

Several brokerages recently commented on AMAT. Jefferies Financial Group downgraded shares of Applied Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $215.00 to $210.00 in a report on Monday, May 13th. TD Cowen upped their price target on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Bank of America upped their price target on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Stifel Nicolaus reiterated a “buy” rating and set a $230.00 price target on shares of Applied Materials in a report on Wednesday, May 15th. Finally, Raymond James upped their price target on shares of Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $221.84.

View Our Latest Stock Analysis on AMAT

Applied Materials Price Performance

The firm’s 50-day moving average price is $222.78 and its two-hundred day moving average price is $198.40. The stock has a market cap of $200.86 billion, a PE ratio of 27.88, a PEG ratio of 3.18 and a beta of 1.56. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. Applied Materials’s payout ratio is 18.39%.

Insider Activity at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the sale, the director now owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Applied Materials news, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the transaction, the insider now owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas J. Iannotti sold 9,827 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now directly owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. Insiders sold 89,827 shares of company stock valued at $21,382,560 over the last 90 days. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMAT. Redmont Wealth Advisors LLC acquired a new stake in shares of Applied Materials in the first quarter worth $26,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Applied Materials in the first quarter worth $35,000. RFP Financial Group LLC increased its stake in shares of Applied Materials by 96.6% in the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after acquiring an additional 85 shares during the period. Finally, DSM Capital Partners LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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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