Applied Materials (NASDAQ:AMAT) Trading Up 0.3% – Here’s Why

by · The Cerbat Gem

Shares of Applied Materials, Inc. (NASDAQ:AMAT – Get Free Report) were up 0.3% during mid-day trading on Wednesday . The stock traded as high as $183.63 and last traded at $183.58. Approximately 1,467,435 shares changed hands during trading, a decline of 76% from the average daily volume of 6,074,843 shares. The stock had previously closed at $183.00.

Analyst Ratings Changes

Several analysts have recently weighed in on AMAT shares. Deutsche Bank Aktiengesellschaft reduced their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a report on Friday, August 16th. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Citigroup lowered their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, Wells Fargo & Company lowered their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.14.

Read Our Latest Analysis on Applied Materials

Applied Materials Price Performance

The company has a market cap of $150.11 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. The company has a fifty day simple moving average of $195.09 and a two-hundred day simple moving average of $208.93. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 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 firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company earned $1.90 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently announced 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 of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

Hedge Funds Weigh In On Applied Materials

A number of institutional investors have recently made changes to their positions in AMAT. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the 1st quarter valued at about $26,000. Summit Securities Group LLC acquired a new position in shares of Applied Materials in the second quarter valued at approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials during the second quarter valued at approximately $28,000. Clean Yield Group acquired a new stake in Applied Materials during the third quarter worth approximately $33,000. Finally, First PREMIER Bank grew its stake in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Company Profile

(Get Free Report)

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.

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