Dennis D. Powell Sells 25,218 Shares of Applied Materials, Inc. (NASDAQ:AMAT) Stock

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Applied Materials, Inc. (NASDAQ:AMAT) Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $51.44, for a total value of $1,297,213.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Applied Materials stock opened at $51.56 on Thursday. Applied Materials, Inc. has a 1-year low of $28.79 and a 1-year high of $52.42. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $46.27 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 3.38 and a beta of 1.66. The firm’s 50 day simple moving average is $48.06 and its 200 day simple moving average is $43.53.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the firm earned $1.20 EPS. Research analysts forecast that Applied Materials, Inc. will post 3 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.

AMAT has been the subject of a number of research reports. Bank of America reiterated a “neutral” rating and set a $52.00 target price (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 17th. ValuEngine lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. KeyCorp dropped their price target on shares of Applied Materials from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. B. Riley set a $54.00 price target on shares of Applied Materials and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Craig Hallum downgraded shares of Applied Materials from a “buy” rating to a “hold” rating and cut their price objective for the stock from $47.00 to $46.00 in a report on Friday, August 16th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and an average price target of $51.00.

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Applied Materials by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,539,478 shares of the manufacturing equipment provider’s stock worth $115,882,000 after buying an additional 211,654 shares in the last quarter. Geode Capital Management LLC grew its position in Applied Materials by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after acquiring an additional 794,347 shares during the last quarter. Cornerstone Advisors Inc. grew its position in Applied Materials by 25.4% during the first quarter. Cornerstone Advisors Inc. now owns 7,823 shares of the manufacturing equipment provider’s stock valued at $310,000 after acquiring an additional 1,585 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Applied Materials by 1.0% during the first quarter. Victory Capital Management Inc. now owns 70,798 shares of the manufacturing equipment provider’s stock worth $2,808,000 after acquiring an additional 685 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its stake in shares of Applied Materials by 110.2% during the first quarter. Bbva Compass Bancshares Inc. now owns 17,824 shares of the manufacturing equipment provider’s stock worth $707,000 after acquiring an additional 9,344 shares in the last quarter. Institutional investors own 79.88% of the company’s stock.

About Applied Materials

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.

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