Applied Materials (NASDAQ:AMAT) Trading 2.2% Higher

Applied Materials, Inc. (NASDAQ:AMAT)’s share price traded up 2.2% during mid-day trading on Monday . The company traded as high as $197.84 and last traded at $197.26. 7,313,800 shares changed hands during trading, an increase of 22% from the average session volume of 6,009,406 shares. The stock had previously closed at $192.98.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMAT. Susquehanna boosted their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.14.

Applied Materials Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The company has a market capitalization of $151.83 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.35 and a beta of 1.56. The company has a 50-day moving average price of $213.23 and a 200-day moving average price of $211.71.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post 8.47 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.87%. Applied Materials’s payout ratio is 18.39%.

Insider Activity at Applied Materials

In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 directly owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction dated 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 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. In the last three months, insiders sold 62,327 shares of company stock worth $15,338,110. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Applied Materials during the 1st quarter worth approximately $1,764,000. GAMMA Investing LLC increased its holdings in shares of Applied Materials by 89.3% in the second quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after purchasing an additional 4,239 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Applied Materials by 5.4% in the first quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock valued at $699,000 after purchasing an additional 172 shares during the period. Balentine LLC lifted its stake in shares of Applied Materials by 22.5% during the 4th quarter. Balentine LLC now owns 19,263 shares of the manufacturing equipment provider’s stock worth $3,122,000 after buying an additional 3,538 shares during the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Applied Materials during the 1st quarter worth about $243,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Company Profile

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.