Shares of Applied Materials, Inc. (NASDAQ:AMAT – Get Free Report) traded down 1.7% on Tuesday . The stock traded as low as $209.39 and last traded at $210.55. 750,303 shares changed hands during trading, a decline of 87% from the average session volume of 5,769,682 shares. The stock had previously closed at $214.21.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on AMAT shares. B. Riley boosted their price target on Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 17th. Needham & Company LLC restated a “buy” rating and set a $240.00 price target on shares of Applied Materials in a research report on Friday, May 17th. JPMorgan Chase & Co. upped their price target on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Evercore ISI assumed coverage on Applied Materials in a report on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on Applied Materials from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.64.
Applied Materials Price Performance
The stock has a market cap of $175.71 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 2.81 and a beta of 1.56. The stock’s fifty day moving average is $207.84 and its 200-day moving average is $185.01. 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 – Get Free Report) last posted its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating the consensus estimate 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%. Applied Materials’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 EPS. As a group, equities analysts anticipate that Applied Materials, Inc. will post 8.32 EPS for the current year.
Applied Materials Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a yield of 0.75%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.
Insider Activity
In related news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly 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 can be accessed through the SEC website. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total value of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.
Hedge Funds Weigh In On Applied Materials
Hedge funds have recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Applied Materials during the first quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Applied Materials during the 4th quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Applied Materials during the 1st quarter worth approximately $35,000. RFP Financial Group LLC boosted its position in Applied Materials by 96.6% in the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after buying an additional 85 shares during the period. Finally, DSM Capital Partners LLC acquired a new position in shares of Applied Materials in the fourth quarter worth $37,000. Institutional investors and hedge funds own 80.56% of the company’s stock.
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.