Applied Materials (NASDAQ:AMAT) Shares Down 2.9%

Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded down 2.9% during trading on Wednesday . The company traded as low as $202.86 and last traded at $203.31. 840,250 shares traded hands during trading, a decline of 86% from the average session volume of 6,123,910 shares. The stock had previously closed at $209.48.

Analysts Set New Price Targets

AMAT has been the subject of a number of research reports. Susquehanna upped their target price on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Mizuho increased their price target on shares of Applied Materials from $185.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Applied Materials in a report on Thursday, April 11th. They set a “hold” rating and a $225.00 price target for the company. Cantor Fitzgerald raised shares of Applied Materials from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $220.00 to $260.00 in a report on Monday, April 8th. Finally, Bank Of America (Bofa) upped their target price on shares of Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.50.

Applied Materials Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. The company’s fifty day moving average price is $201.54 and its 200 day moving average price is $168.85. The firm has a market capitalization of $167.31 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 3.08 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.48 billion. During the same period in the previous year, the business posted $2.03 EPS. Applied Materials’s revenue was down .4% on a year-over-year basis. Equities research analysts expect that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 0.79%. Applied Materials’s payout ratio is presently 15.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMAT. Mirae Asset Global Investments Co. Ltd. grew its position in Applied Materials by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,020,894 shares of the manufacturing equipment provider’s stock worth $134,555,000 after acquiring an additional 54,261 shares in the last quarter. Zions Bancorporation N.A. grew its position in Applied Materials by 92.3% in the first quarter. Zions Bancorporation N.A. now owns 3,180 shares of the manufacturing equipment provider’s stock worth $419,000 after acquiring an additional 1,526 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Applied Materials by 21.7% in the first quarter. Brown Brothers Harriman & Co. now owns 8,981 shares of the manufacturing equipment provider’s stock worth $1,184,000 after acquiring an additional 1,604 shares in the last quarter. Merit Financial Group LLC bought a new stake in Applied Materials in the first quarter worth approximately $315,000. Finally, West Family Investments Inc. grew its position in Applied Materials by 12.6% in the first quarter. West Family Investments Inc. now owns 2,215 shares of the manufacturing equipment provider’s stock worth $292,000 after acquiring an additional 248 shares in the last quarter. 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.