Applied Materials (NASDAQ:AMAT) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a report issued on Saturday.

Several other analysts have also recently issued reports on AMAT. Needham & Company LLC reaffirmed a buy rating and set a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Wells Fargo & Company increased their price target on Applied Materials from $255.00 to $280.00 and gave the company an overweight rating in a report on Monday, June 17th. Stifel Nicolaus decreased their price target on Applied Materials from $275.00 to $270.00 and set a buy rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price target on Applied Materials from $240.00 to $250.00 and gave the company an overweight rating in a report on Friday, August 16th. Finally, Cantor Fitzgerald restated an overweight rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, August 16th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $232.00.

Applied Materials Stock Up 0.5 %

NASDAQ AMAT opened at $188.59 on Friday. The stock’s 50 day moving average is $201.65 and its 200 day moving average is $210.55. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials has a 12 month low of $129.21 and a 12 month high of $255.89. The stock has a market cap of $156.15 billion, a PE ratio of 21.68, a P/E/G ratio of 2.21 and a beta of 1.55.

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

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Insider Transactions at Applied Materials

In other news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the transaction, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

A number of institutional investors have recently added to or reduced their stakes in AMAT. Precision Wealth Strategies LLC boosted its position in Applied Materials by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock valued at $502,000 after purchasing an additional 242 shares in the last quarter. Gilbert & Cook Inc. raised its stake in Applied Materials by 11.1% in the fourth quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock valued at $678,000 after buying an additional 418 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in Applied Materials by 5.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock valued at $249,000 after buying an additional 84 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in Applied Materials in the fourth quarter valued at about $276,000. Finally, Navellier & Associates Inc. purchased a new stake in Applied Materials in the fourth quarter valued at about $300,000. Institutional investors 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.