Applied Materials (NASDAQ:AMAT) Stock Price Down 2.9%

Applied Materials, Inc. (NASDAQ:AMAT) shares were down 2.9% on Wednesday . The company traded as low as $202.86 and last traded at $203.31. Approximately 840,250 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 6,123,910 shares. The stock had previously closed at $209.48.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several analyst reports. Evercore ISI assumed coverage on Applied Materials in a research report on Tuesday. They set an “outperform” rating and a $260.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Applied Materials in a report on Thursday, April 11th. They set a “hold” rating and a $225.00 price target on the stock. Barclays lifted their target price on shares of Applied Materials from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 16th. TD Cowen lifted their price target on Applied Materials from $185.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Susquehanna boosted their price objective on Applied Materials from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $201.50.

Applied Materials Trading Down 2.8 %

The firm has a 50-day simple moving average of $202.53 and a 200-day simple moving average of $169.24. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. The stock has a market cap of $161.46 billion, a PE ratio of 22.86, a P/E/G ratio of 3.13 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The business had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter last year, the company earned $2.03 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Equities analysts forecast that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.40 per share. This is a positive change 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 0.82%. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s payout ratio is 15.06%.

Institutional Investors Weigh In On Applied Materials

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Applied Materials by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,020,894 shares of the manufacturing equipment provider’s stock valued at $134,555,000 after purchasing an additional 54,261 shares in the last quarter. Zions Bancorporation N.A. increased its stake in Applied Materials by 92.3% in the first quarter. Zions Bancorporation N.A. now owns 3,180 shares of the manufacturing equipment provider’s stock valued at $419,000 after acquiring an additional 1,526 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Applied Materials by 21.7% during the first quarter. Brown Brothers Harriman & Co. now owns 8,981 shares of the manufacturing equipment provider’s stock valued at $1,184,000 after purchasing an additional 1,604 shares in the last quarter. Merit Financial Group LLC bought a new stake in Applied Materials during the first quarter worth about $315,000. Finally, West Family Investments Inc. boosted its holdings in shares of Applied Materials by 12.6% in the 1st quarter. West Family Investments Inc. now owns 2,215 shares of the manufacturing equipment provider’s stock worth $292,000 after purchasing an additional 248 shares in the last quarter. Hedge funds and other 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.