Applied Materials (NASDAQ:AMAT) Trading 1.5% Higher

Applied Materials, Inc. (NASDAQ:AMAT)’s stock price was up 1.5% during trading on Thursday . The company traded as high as $237.82 and last traded at $235.59. Approximately 867,244 shares were traded during trading, a decline of 85% from the average daily volume of 5,754,296 shares. The stock had previously closed at $232.17.

Analyst Ratings Changes

AMAT has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. B. Riley lifted their price objective on shares of Applied Materials from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Susquehanna upped their target price on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Evercore ISI began coverage on shares of Applied Materials in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a report on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.84.

Applied Materials Stock Up 1.5 %

The firm has a market cap of $195.39 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 3.04 and a beta of 1.56. The company has a 50-day simple moving average of $218.22 and a 200-day simple moving average of $195.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. Applied Materials’s payout ratio is 18.39%.

Insider Buying and Selling

In other news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the transaction, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The disclosure for this sale can be found here. Insiders have sold a total of 89,827 shares of company stock valued at $21,382,560 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Applied Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of AMAT. Aldebaran Financial Inc. purchased a new stake in Applied Materials during the 4th quarter worth approximately $211,000. Sycomore Asset Management grew its holdings in shares of Applied Materials by 55.6% during the fourth quarter. Sycomore Asset Management now owns 33,107 shares of the manufacturing equipment provider’s stock valued at $5,437,000 after buying an additional 11,825 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Applied Materials in the 4th quarter valued at $7,274,000. First National Bank of Mount Dora Trust Investment Services purchased a new position in Applied Materials in the 1st quarter worth $1,764,000. Finally, GHP Investment Advisors Inc. lifted its position in Applied Materials by 132.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 16,704 shares of the manufacturing equipment provider’s stock worth $2,707,000 after acquiring an additional 9,527 shares during the period. Hedge funds and other 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.