Applied Materials (NASDAQ:AMAT) Stock Price Up 4.9%

Shares of Applied Materials, Inc. (NASDAQ:AMAT) rose 4.9% on Thursday . The stock traded as high as $196.00 and last traded at $195.22. Approximately 1,074,742 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 6,037,012 shares. The stock had previously closed at $186.14.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Stifel Nicolaus lowered their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Wells Fargo & Company lifted their price objective on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.00.

Applied Materials Price Performance

The firm has a 50 day moving average of $200.27 and a 200-day moving average of $210.38. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The company has a market cap of $162.51 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.21 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. On average, equities research analysts predict that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.82%. Applied Materials’s dividend payout ratio (DPR) 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 that occurred on 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 filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Applied Materials

A number of institutional investors and hedge funds have recently made changes to their positions in AMAT. KP Management LLC bought a new position in shares of Applied Materials in the 2nd quarter valued at about $2,360,000. University of Texas Texas AM Investment Management Co. lifted its stake in shares of Applied Materials by 132.7% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 9,805 shares of the manufacturing equipment provider’s stock valued at $2,314,000 after purchasing an additional 5,592 shares during the last quarter. Lazari Capital Management Inc. boosted its holdings in shares of Applied Materials by 15.8% in the 2nd quarter. Lazari Capital Management Inc. now owns 1,268 shares of the manufacturing equipment provider’s stock worth $299,000 after purchasing an additional 173 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Applied Materials during the 2nd quarter valued at approximately $13,521,000. Finally, Clearbridge Investments LLC raised its holdings in Applied Materials by 51.0% during the 2nd quarter. Clearbridge Investments LLC now owns 11,812 shares of the manufacturing equipment provider’s stock valued at $2,788,000 after buying an additional 3,990 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

About Applied Materials

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.