Applied Materials (NASDAQ:AMAT) Trading 2% Higher

Applied Materials, Inc. (NASDAQ:AMAT)’s stock price rose 2% during mid-day trading on Wednesday . The company traded as high as $249.42 and last traded at $247.83. Approximately 5,256,914 shares changed hands during trading, an increase of 8% from the average daily volume of 4,859,224 shares. The stock had previously closed at $242.86.

Analyst Upgrades and Downgrades

Several research firms have commented on AMAT. Bank of America lifted their price target on Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. TD Cowen lifted their target price 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. Jefferies Financial Group cut shares of Applied Materials from a “buy” rating to a “hold” rating and decreased their price target for the stock from $215.00 to $210.00 in a research note on Monday, May 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $260.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 target price 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.84.

Applied Materials Trading Down 3.2 %

The business’s fifty day moving average price is $214.36 and its 200 day moving average price is $192.02. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $198.70 billion, a PE ratio of 27.59, a P/E/G ratio of 3.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The firm 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% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 earnings per share. As a group, analysts expect that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a yield of 0.67%. Applied Materials’s payout ratio is currently 18.39%.

Insider Buying and Selling

In other Applied Materials news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were 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 of the company’s stock, valued at $24,091,873.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Teri A. Little sold 2,500 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $221.62, for a total value of $554,050.00. Following the sale, the senior vice president now owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,000 shares of company stock worth $6,598,500. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Materials

Hedge funds have recently modified their holdings of the stock. LPL Financial LLC lifted its stake in shares of Applied Materials by 2.5% in the third quarter. LPL Financial LLC now owns 406,390 shares of the manufacturing equipment provider’s stock worth $56,265,000 after acquiring an additional 9,934 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Applied Materials by 4.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,362 shares of the manufacturing equipment provider’s stock worth $604,000 after acquiring an additional 200 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Applied Materials by 105.7% in the 3rd quarter. Federated Hermes Inc. now owns 112,478 shares of the manufacturing equipment provider’s stock valued at $15,573,000 after purchasing an additional 57,791 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Applied Materials by 9.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 6,035 shares of the manufacturing equipment provider’s stock valued at $836,000 after purchasing an additional 509 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its stake in Applied Materials by 14.4% in the third quarter. Personal CFO Solutions LLC now owns 4,659 shares of the manufacturing equipment provider’s stock worth $645,000 after purchasing an additional 587 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other 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.