Applied Materials (NASDAQ:AMAT) Stock Price Down 0.6% – What’s Next?

Applied Materials, Inc. (NASDAQ:AMAT)’s stock price dropped 0.6% on Monday . The stock traded as low as $184.44 and last traded at $185.22. Approximately 490,052 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 6,074,900 shares. The stock had previously closed at $186.36.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMAT shares. Wells Fargo & Company decreased their price target on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a research note on Friday, August 16th. Mizuho lowered their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus lowered their price objective on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Trading Down 0.2 %

The stock has a market cap of $151.27 billion, a PE ratio of 21.10, a P/E/G ratio of 2.66 and a beta of 1.54. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $195.09 and a 200-day simple moving average of $208.93.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. Equities analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. Applied Materials’s dividend payout ratio is currently 18.39%.

Institutional Trading of Applied Materials

Large investors have recently modified their holdings of the business. Summit Securities Group LLC bought a new position in shares of Applied Materials in the 2nd quarter worth $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials during the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new stake in Applied Materials in the 1st quarter worth approximately $26,000. PSI Advisors LLC boosted its stake in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Finally, Clean Yield Group bought a new position in Applied Materials during the third quarter valued at approximately $33,000. Institutional investors 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.