Applied Materials (NASDAQ:AMAT) Trading Up 1.4% - Still a Buy?

Applied Materials, Inc. (NASDAQ:AMAT - Get Free Report)'s stock price rose 1.4% on Monday . The company traded as high as $194.40 and last traded at $193.10. Approximately 947,929 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 7,094,363 shares. The stock had previously closed at $190.44.

Analysts Set New Price Targets

A number of research firms have recently commented on AMAT. Rothschild & Co Redburn lowered Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target on the stock. in a research report on Monday, July 7th. Bank of America dropped their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Applied Materials in a research note on Friday, May 16th. Morgan Stanley boosted their price objective on Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Mizuho lifted their target price on Applied Materials from $195.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Applied Materials has an average rating of "Moderate Buy" and an average target price of $204.74.

Applied Materials Stock Performance

The company has a market capitalization of $154.57 billion, a PE ratio of 23.43, a PEG ratio of 2.12 and a beta of 1.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The company has a 50 day moving average of $175.89 and a two-hundred day moving average of $166.02.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm's revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.09 earnings per share. As a group, equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a yield of 0.96%. Applied Materials's dividend payout ratio is currently 22.38%.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the sale, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On Applied Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMAT. Runnymede Capital Advisors Inc. boosted its position in Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after buying an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Applied Materials during the 1st quarter valued at about $29,000. Maseco LLP acquired a new stake in shares of Applied Materials in the second quarter valued at approximately $30,000. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Applied Materials by 435.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider's stock worth $31,000 after purchasing an additional 174 shares during the period. Finally, Activest Wealth Management increased its position in Applied Materials by 5,325.0% during the 1st quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider's stock worth $31,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.