Applied Materials, Inc. (NASDAQ:AMAT - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $225.07 and last traded at $222.42, with a volume of 867953 shares changing hands. The stock had previously closed at $218.15.
Wall Street Analysts Forecast Growth
AMAT has been the topic of several recent research reports. The Goldman Sachs Group lifted their price target on shares of Applied Materials from $156.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Citigroup increased their target price on Applied Materials from $170.00 to $211.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $260.00 price target on shares of Applied Materials in a research note on Friday, May 17th. UBS Group increased their price objective on shares of Applied Materials from $185.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 5th. Finally, B. Riley boosted their target price on shares of Applied Materials from $250.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and a consensus target price of $215.64.
Check Out Our Latest Stock Report on AMAT
Applied Materials Trading Down 0.1 %
The firm has a fifty day moving average price of $205.99 and a 200-day moving average price of $181.10. The company has a market capitalization of $181.09 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 2.88 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97.
Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the prior year, the firm earned $2.00 EPS. The company's revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Materials, Inc. will post 8.3 earnings per share for the current year.
Applied Materials Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.73%. This is a positive change from Applied Materials's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. Applied Materials's payout ratio is currently 18.39%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. JT Stratford LLC boosted its stake in shares of Applied Materials by 0.4% in the first quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider's stock worth $2,246,000 after acquiring an additional 48 shares during the period. Financial Management Professionals Inc. grew its holdings in Applied Materials by 5.6% during the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider's stock valued at $191,000 after buying an additional 49 shares in the last quarter. Heritage Wealth Advisors grew its holdings in Applied Materials by 1.0% during the 4th quarter. Heritage Wealth Advisors now owns 5,217 shares of the manufacturing equipment provider's stock valued at $846,000 after buying an additional 54 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Applied Materials by 0.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,041 shares of the manufacturing equipment provider's stock valued at $1,246,000 after buying an additional 54 shares during the last quarter. Finally, F M Investments LLC lifted its holdings in shares of Applied Materials by 2.9% in the first quarter. F M Investments LLC now owns 2,098 shares of the manufacturing equipment provider's stock worth $434,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.
About Applied Materials
(
Get Free Report)
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.
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