Applied Materials (NASDAQ:AMAT) Trading 2.1% Higher

Applied Materials, Inc. (NASDAQ:AMAT)’s stock price was up 2.1% during trading on Friday . The company traded as high as $222.71 and last traded at $222.57. Approximately 770,966 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 5,761,645 shares. The stock had previously closed at $217.95.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AMAT shares. Citigroup raised their price target on Applied Materials from $170.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of Applied Materials in a report on Friday, May 17th. Raymond James increased their price target on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Wells Fargo & Company boosted their price objective on shares of Applied Materials from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, Susquehanna raised their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.64.

Applied Materials Stock Performance

The company has a market capitalization of $183.89 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.85 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. The stock’s fifty day simple moving average is $205.99 and its 200-day simple moving average is $181.10.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. As a group, equities analysts predict that Applied Materials, Inc. will post 8.32 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. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMAT. Norges Bank acquired a new stake in Applied Materials during the 4th quarter worth approximately $1,514,814,000. Swedbank AB acquired a new stake in Applied Materials during the 1st quarter worth approximately $773,611,000. Wellington Management Group LLP grew its position in Applied Materials by 3,940.1% in the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock valued at $352,626,000 after acquiring an additional 2,121,912 shares in the last quarter. Janus Henderson Group PLC grew its position in Applied Materials by 126.4% in the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after acquiring an additional 1,259,111 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Applied Materials by 123.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,976,914 shares of the manufacturing equipment provider’s stock valued at $407,699,000 after acquiring an additional 1,092,429 shares in the last quarter. 80.56% of the stock is currently 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.