Applied Materials (NASDAQ:AMAT) Shares Down 1%

Applied Materials, Inc. (NASDAQ:AMAT)’s share price was down 1% during mid-day trading on Friday . The stock traded as low as $233.62 and last traded at $235.14. Approximately 801,607 shares traded hands during trading, a decline of 86% from the average daily volume of 5,705,292 shares. The stock had previously closed at $237.55.

Analysts Set New Price Targets

Several analysts have commented on AMAT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $260.00 target price on shares of Applied Materials in a research note on Friday, May 17th. TD Cowen lifted their price objective on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Applied Materials in a research report on Thursday, April 11th. They set a “hold” rating and a $225.00 target price for the company. Bank of America lifted their price target on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, The Goldman Sachs Group increased their price target on Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 16th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $219.04.

Applied Materials Trading Up 0.2 %

The firm has a market capitalization of $197.03 billion, a P/E ratio of 27.03, a PEG ratio of 3.11 and a beta of 1.56. The business has a 50-day moving average price of $211.04 and a 200-day moving average price of $188.78. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Analysts anticipate that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Announces Dividend

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

Insider Buying and Selling

In other news, SVP Teri A. Little sold 7,500 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the transaction, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Teri A. Little sold 7,500 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the transaction, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $221.62, for a total transaction of $554,050.00. Following the transaction, the senior vice president now directly owns 76,212 shares in the company, valued at $16,890,103.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,000 shares of company stock worth $6,598,500. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Applied Materials

A number of large investors have recently bought and sold shares of the company. JT Stratford LLC raised its stake in Applied Materials by 0.4% in the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock valued at $2,246,000 after acquiring an additional 48 shares during the period. Financial Management Professionals Inc. increased its position in shares of Applied Materials by 5.6% during the first quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock valued at $191,000 after buying an additional 49 shares during the period. Heritage Wealth Advisors increased its position in shares of Applied Materials by 1.0% during the fourth quarter. Heritage Wealth Advisors now owns 5,217 shares of the manufacturing equipment provider’s stock valued at $846,000 after buying an additional 54 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in shares of Applied Materials by 0.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,041 shares of the manufacturing equipment provider’s stock valued at $1,246,000 after buying an additional 54 shares during the period. Finally, F M Investments LLC increased its position in shares of Applied Materials by 2.9% during the first quarter. F M Investments LLC now owns 2,098 shares of the manufacturing equipment provider’s stock valued at $434,000 after buying an additional 59 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.