Applied Materials (NASDAQ:AMAT) Stock Price Up 1% – Here’s Why

Applied Materials, Inc. (NASDAQ:AMAT) rose 1% during mid-day trading on Thursday . The company traded as high as $187.80 and last traded at $184.45. Approximately 1,958,066 shares were traded during trading, a decline of 68% from the average daily volume of 6,077,594 shares. The stock had previously closed at $182.70.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMAT. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Tuesday, October 8th. Mizuho dropped their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Morgan Stanley lowered their target price on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Finally, Citigroup cut their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.14.

Applied Materials Stock Performance

The company has a market cap of $152.72 billion, a PE ratio of 21.20, a P/E/G ratio of 2.66 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The stock’s 50-day simple moving average is $194.71 and its 200 day simple moving average is $208.75.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results 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. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company posted $1.90 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. Applied Materials’s payout ratio is currently 18.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMAT. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new stake in Applied Materials in the second quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Applied Materials in the first quarter valued at $26,000. PSI Advisors LLC raised its stake in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares during the last quarter. Finally, Clean Yield Group acquired a new position in shares of Applied Materials during the 3rd quarter worth $33,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Company Profile

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.