Applied Materials (NASDAQ:AMAT) Shares Up 0.2%

Applied Materials, Inc. (NASDAQ:AMAT)’s share price was up 0.2% on Wednesday . The stock traded as high as $190.96 and last traded at $189.00. Approximately 505,586 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 6,043,685 shares. The stock had previously closed at $188.59.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. B. Riley decreased their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Applied Materials in a research report on Friday, August 16th. Wells Fargo & Company raised their price objective on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, Morgan Stanley dropped their price objective on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

Applied Materials Trading Down 0.3 %

The business’s 50-day moving average is $201.65 and its two-hundred day moving average is $210.55. The stock has a market capitalization of $155.73 billion, a PE ratio of 21.72, a PEG ratio of 2.21 and a beta of 1.55. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last issued 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 company 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%. Applied Materials’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.90 earnings per share. On average, analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Insider Transactions at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now directly 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. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

Institutional investors have recently modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the first quarter worth about $26,000. Summit Securities Group LLC bought a new stake in shares of Applied Materials in the 2nd quarter valued at approximately $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials during the 2nd quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in Applied Materials in the first quarter worth $35,000. Finally, RFP Financial Group LLC increased its stake in Applied Materials by 96.6% during the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds 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.