Applied Materials (NASDAQ:AMAT) Trading Up 4.5%

Applied Materials, Inc. (NASDAQ:AMAT) was up 4.5% on Monday . The company traded as high as $219.96 and last traded at $219.70. Approximately 1,734,260 shares traded hands during trading, a decline of 70% from the average daily volume of 5,686,778 shares. The stock had previously closed at $210.26.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMAT shares. TD Cowen raised their target price on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Raymond James raised their target price on shares of Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Evercore ISI started coverage on shares of Applied Materials in a research note on Tuesday, April 16th. They set an “outperform” rating and a $260.00 target price for the company. Wells Fargo & Company raised their target price on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Finally, Bank of America increased their price target on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $224.84.

Applied Materials Stock Down 6.0 %

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 company’s fifty day moving average is $229.84 and its 200-day moving average is $205.39. The company has a market cap of $171.00 billion, a PE ratio of 23.74, a PEG ratio of 2.79 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $2.00 EPS. On average, analysts predict that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

Insider Transactions at Applied Materials

In other news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction 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 in the company, valued at approximately $24,091,873.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the sale, the senior vice president now directly owns 76,212 shares in the company, valued at approximately $16,890,103.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The disclosure for this sale can be found here. Insiders have sold 89,827 shares of company stock worth $21,382,560 in the last 90 days. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Applied Materials

Institutional investors and hedge funds have recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials during the 1st quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Applied Materials in the 4th quarter valued at $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in Applied Materials in the 1st quarter valued at $35,000. RFP Financial Group LLC increased its holdings in Applied Materials by 96.6% in the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after acquiring an additional 85 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new stake in Applied Materials in the 4th quarter valued at $37,000. 80.56% of the stock is currently owned by institutional investors.

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.