Applied Materials (AMAT) Shares Down 0%

Applied Materials (NASDAQ:AMAT) traded down 0% on Wednesday . The stock traded as low as $54.57 and last traded at $54.73. 18,684,330 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 14,554,359 shares. The stock had previously closed at $54.73.

Several equities research analysts have weighed in on the company. UBS assumed coverage on Applied Materials in a report on Wednesday, April 4th. They issued a “neutral” rating and a $58.00 price target for the company. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $57.92 price target for the company. in a report on Thursday, February 1st. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Finally, Deutsche Bank raised their price objective on Applied Materials from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and an average target price of $64.52.

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The company has a quick ratio of 2.25, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. The stock has a market cap of $59,752.57, a price-to-earnings ratio of 16.84, a P/E/G ratio of 0.97 and a beta of 1.63.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.08. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same period last year, the business earned $0.67 earnings per share. analysts expect that Applied Materials will post 4.41 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a dividend of $0.20 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio (DPR) is currently 12.31%.

Applied Materials declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

In related news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the completion of the transaction, the director now directly owns 76,967 shares in the company, valued at $4,731,161.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of AMAT. Lansdowne Partners UK LLP purchased a new stake in shares of Applied Materials in the fourth quarter valued at approximately $370,984,000. Jackson Square Partners LLC purchased a new stake in shares of Applied Materials in the fourth quarter valued at approximately $284,833,000. Macquarie Group Ltd. increased its position in shares of Applied Materials by 631.8% in the fourth quarter. Macquarie Group Ltd. now owns 1,962,471 shares of the manufacturing equipment provider’s stock valued at $100,438,000 after buying an additional 1,694,283 shares in the last quarter. BlackRock Inc. increased its position in shares of Applied Materials by 1.8% in the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock valued at $3,521,655,000 after buying an additional 1,248,388 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Applied Materials by 10.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock valued at $568,507,000 after buying an additional 1,033,700 shares in the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.

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About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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