Applied Materials (NASDAQ:AMAT) Trading Up 1.1% – Here’s What Happened

Shares of Applied Materials, Inc. (NASDAQ:AMAT) were up 1.1% during trading on Tuesday . The company traded as high as $188.19 and last traded at $187.44. Approximately 1,028,622 shares traded hands during trading, a decline of 83% from the average daily volume of 6,057,764 shares. The stock had previously closed at $185.34.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMAT shares. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Susquehanna dropped their price target on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, UBS Group dropped their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $229.14.

Applied Materials Stock Down 2.0 %

The company’s fifty day moving average is $192.41 and its 200-day moving average is $207.92. The company has a market capitalization of $150.34 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the firm posted $1.90 EPS. The company’s revenue was up 5.5% on a year-over-year basis. As a group, analysts predict that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMAT. Kovack Advisors Inc. boosted its position in shares of Applied Materials by 3.6% during the 1st quarter. Kovack Advisors Inc. now owns 2,847 shares of the manufacturing equipment provider’s stock valued at $587,000 after acquiring an additional 99 shares during the last quarter. Veracity Capital LLC lifted its position in Applied Materials by 4.7% in the first quarter. Veracity Capital LLC now owns 2,490 shares of the manufacturing equipment provider’s stock worth $514,000 after buying an additional 111 shares during the last quarter. Everett Harris & Co. CA lifted its position in Applied Materials by 51.3% in the first quarter. Everett Harris & Co. CA now owns 3,596 shares of the manufacturing equipment provider’s stock worth $742,000 after buying an additional 1,220 shares during the last quarter. Strategic Advisors LLC bought a new stake in Applied Materials in the first quarter worth $203,000. Finally, Ashton Thomas Private Wealth LLC lifted its position in Applied Materials by 1.6% in the first quarter. Ashton Thomas Private Wealth LLC now owns 7,430 shares of the manufacturing equipment provider’s stock worth $1,532,000 after buying an additional 120 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.