Applied Materials (NASDAQ:AMAT) Stock Price Down 5.1%

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Applied Materials, Inc. (NASDAQ:AMAT)’s share price traded down 5.1% on Wednesday . The company traded as low as $41.36 and last traded at $41.50. 9,043,806 shares changed hands during trading, a decline of 12% from the average session volume of 10,322,057 shares. The stock had previously closed at $43.75.

A number of equities analysts have weighed in on the company. BidaskClub downgraded Applied Materials from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Susquehanna Bancshares raised Applied Materials from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $34.00 to $60.00 in a research report on Wednesday, May 15th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, May 21st. UBS Group boosted their price target on Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Finally, B. Riley raised Applied Materials from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $54.00 in a research report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.43.

The firm has a market capitalization of $38.85 billion, a PE ratio of 9.33, a P/E/G ratio of 1.55 and a beta of 1.66. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business’s revenue was down 22.7% on a year-over-year basis. On average, equities analysts forecast that Applied Materials, Inc. will post 2.98 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio is presently 18.88%.

In related news, SVP Steve G. Ghanayem sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total value of $1,067,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen R. Forrest sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,255 shares of company stock valued at $6,987,176. Corporate insiders own 0.44% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Family Legacy Inc. boosted its stake in shares of Applied Materials by 4.4% in the fourth quarter. Family Legacy Inc. now owns 30,602 shares of the manufacturing equipment provider’s stock valued at $1,002,000 after buying an additional 1,288 shares during the period. Aptus Capital Advisors LLC bought a new stake in shares of Applied Materials in the fourth quarter valued at approximately $1,576,000. Pactiv General Employee Benefit Trust bought a new stake in shares of Applied Materials in the fourth quarter valued at approximately $18,165,000. XR Securities LLC bought a new stake in shares of Applied Materials in the first quarter valued at approximately $619,000. Finally, Chemical Bank boosted its stake in shares of Applied Materials by 3.5% in the first quarter. Chemical Bank now owns 26,575 shares of the manufacturing equipment provider’s stock valued at $1,054,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 77.59% of the company’s stock.

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Applied Materials Company Profile (NASDAQ:AMAT)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

Further Reading: Average Daily Trade Volume – ADTV

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