Applied Materials (NASDAQ:AMAT) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a research note released on Saturday.

AMAT has been the subject of several other reports. Barclays upgraded Applied Materials from an underweight rating to an equal weight rating and raised their price objective for the stock from $165.00 to $225.00 in a research note on Wednesday, June 5th. Bank of America raised their target price on Applied Materials from $222.00 to $250.00 and gave the stock a buy rating in a report on Friday, May 17th. B. Riley dropped their target price on Applied Materials from $300.00 to $280.00 and set a buy rating on the stock in a report on Friday, August 16th. TD Cowen raised their target price on Applied Materials from $245.00 to $250.00 and gave the stock a buy rating in a report on Friday, May 17th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $232.00.

Applied Materials Trading Up 0.5 %

Shares of NASDAQ:AMAT opened at $188.59 on Friday. Applied Materials has a 52-week low of $129.21 and a 52-week high of $255.89. The stock has a market cap of $156.15 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.21 and a beta of 1.55. 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 business has a 50-day moving average price of $201.65 and a 200-day moving average price of $210.55.

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

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 18.39%.

Insider Transactions at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the transaction, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Applied Materials

A number of institutional investors have recently added to or reduced their stakes in AMAT. Redmont Wealth Advisors LLC purchased a new position in Applied Materials during the first quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in Applied Materials in the second quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Applied Materials in the fourth quarter valued at $27,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials in the second quarter valued at $28,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials in the first quarter valued at $35,000. Hedge funds and other 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.