Applied Materials (NASDAQ:AMAT) Stock Price Down 0.7%

Applied Materials, Inc. (NASDAQ:AMAT - Get Free Report) shares dropped 0.7% on Wednesday . The stock traded as low as $217.13 and last traded at $217.78. Approximately 717,110 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 5,767,757 shares. The stock had previously closed at $219.40.

Analysts Set New Price Targets

A number of analysts recently commented on AMAT shares. Mizuho upped their price target on shares of Applied Materials from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a research report on Thursday, April 11th. They issued a "hold" rating and a $225.00 price target for the company. Evercore ISI assumed coverage on Applied Materials in a report on Tuesday, April 16th. They set an "outperform" rating and a $260.00 price objective on the stock. UBS Group lifted their target price on Applied Materials from $185.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, March 5th. Finally, Raymond James increased their price target on shares of Applied Materials from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.64.

Applied Materials Stock Performance

The stock has a market capitalization of $181.26 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 2.88 and a beta of 1.58. The business's fifty day moving average is $205.30 and its two-hundred day moving average is $180.58. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.12. The firm had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business's revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.00 EPS. As a group, research analysts anticipate that Applied Materials, Inc. will post 8.3 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.73%. Applied Materials's dividend payout ratio is presently 14.71%.

Institutional Investors Weigh In On Applied Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials in the first quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Applied Materials in the 4th quarter worth approximately $27,000. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Applied Materials during the first quarter valued at approximately $35,000. Finally, RFP Financial Group LLC increased its holdings in Applied Materials by 96.6% during the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider's stock valued at $36,000 after buying an additional 85 shares during the period. Institutional investors own 80.56% of the company's stock.

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.