Applied Materials (NASDAQ:AMAT) Shares Down 5.7%

Applied Materials, Inc. (NASDAQ:AMAT) dropped 5.7% during mid-day trading on Tuesday . The company traded as low as $185.93 and last traded at $186.01. Approximately 1,469,833 shares were traded during trading, a decline of 75% from the average daily volume of 5,982,544 shares. The stock had previously closed at $197.26.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. UBS Group decreased their price objective on shares of Applied Materials from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. TD Cowen increased their price objective on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Finally, Susquehanna increased their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $233.14.

Applied Materials Stock Down 1.2 %

The business’s 50 day moving average is $212.23 and its 200-day moving average is $211.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The company has a market cap of $149.23 billion, a PE ratio of 20.75, a P/E/G ratio of 2.35 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The business 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%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. As a group, analysts predict that Applied Materials, Inc. will post 8.47 EPS for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.89%. Applied Materials’s dividend payout ratio is presently 18.39%.

Insider Transactions at Applied Materials

In other news, SVP Teri A. Little sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the completion of the sale, the senior vice president now owns 76,212 shares in the company, valued at approximately $16,890,103.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Teri A. Little sold 2,500 shares of Applied Materials stock in a transaction on Friday, June 7th. The shares were sold at an average price of $221.62, for a total value of $554,050.00. Following the transaction, the senior vice president now directly owns 76,212 shares of the company’s stock, valued at approximately $16,890,103.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction on Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now directly owns 49,185 shares in the company, valued at $11,639,630.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,327 shares of company stock worth $15,338,110. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Materials

A number of institutional investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new position in Applied Materials in the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the 1st quarter valued at $26,000. PSI Advisors LLC increased its stake in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in Applied Materials in the 4th quarter valued at $27,000. 80.56% of the stock is owned by institutional investors and hedge funds.

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.