Applied Materials (NASDAQ:AMAT) Stock Price Up 2.8%

Applied Materials, Inc. (NASDAQ:AMAT) shares traded up 2.8% during mid-day trading on Friday . The stock traded as high as $241.29 and last traded at $238.96. 993,051 shares changed hands during trading, a decline of 83% from the average session volume of 5,743,659 shares. The stock had previously closed at $232.53.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group lowered Applied Materials from a “buy” rating to a “hold” rating and dropped their target price for the stock from $215.00 to $210.00 in a report on Monday, May 13th. Stifel Nicolaus reiterated a “buy” rating and set a $230.00 target price on shares of Applied Materials in a report on Wednesday, May 15th. Susquehanna upped their target price on Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a research note on Thursday, April 11th. They issued a “hold” rating and a $225.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.84.

Applied Materials Price Performance

The business has a 50 day moving average price of $216.53 and a two-hundred day moving average price of $194.73. The stock has a market cap of $196.20 billion, a PE ratio of 27.47, a P/E/G ratio of 3.04 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80.

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

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Insider Buying and Selling

In related news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 78,712 shares in the company, valued at $16,767,230.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the completion of 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 SEC, which is accessible through this hyperlink. Also, CFO Brice Hill sold 20,000 shares of the 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 transaction, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,827 shares of company stock worth $21,382,560. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Old Port Advisors boosted its holdings in Applied Materials by 13.4% in the first quarter. Old Port Advisors now owns 2,767 shares of the manufacturing equipment provider’s stock worth $571,000 after purchasing an additional 327 shares during the last quarter. Lazari Capital Management Inc. bought a new stake in shares of Applied Materials during the 1st quarter valued at $226,000. SRN Advisors LLC raised its position in shares of Applied Materials by 5.0% during the 1st quarter. SRN Advisors LLC now owns 5,889 shares of the manufacturing equipment provider’s stock valued at $1,214,000 after purchasing an additional 282 shares during the period. Keynote Financial Services LLC bought a new stake in shares of Applied Materials during the 1st quarter valued at $1,122,000. Finally, Cypress Asset Management Inc. TX increased its holdings in Applied Materials by 2.3% in the 1st quarter. Cypress Asset Management Inc. TX now owns 24,182 shares of the manufacturing equipment provider’s stock valued at $5,024,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other 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.