Applied Materials (AMAT) Shares Gap Down to $39.18

Applied Materials, Inc. (NASDAQ:AMAT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $40.23, but opened at $39.18. Applied Materials shares last traded at $38.39, with a volume of 17185881 shares trading hands.

A number of research analysts have recently weighed in on AMAT shares. Citigroup lowered their price objective on Applied Materials from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, July 13th. Craig Hallum lowered their price objective on Applied Materials from $76.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, May 18th. They noted that the move was a valuation call. Deutsche Bank set a $65.00 price objective on Applied Materials and gave the company a “buy” rating in a research report on Friday, May 18th. Stifel Nicolaus lifted their price objective on Applied Materials from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 18th. Finally, B. Riley lowered their price objective on Applied Materials from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, May 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Applied Materials has a consensus rating of “Buy” and a consensus target price of $61.84.

The company has a quick ratio of 1.67, a current ratio of 2.52 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $39.17 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.70 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The company had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. analysts anticipate that Applied Materials, Inc. will post 4.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. Applied Materials’s dividend payout ratio is presently 24.62%.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMAT. BlackRock Inc. increased its stake in Applied Materials by 10.5% in the 1st quarter. BlackRock Inc. now owns 76,112,124 shares of the manufacturing equipment provider’s stock worth $4,232,597,000 after acquiring an additional 7,222,175 shares during the last quarter. Winslow Capital Management LLC increased its stake in Applied Materials by 2,586,194.2% in the 1st quarter. Winslow Capital Management LLC now owns 3,129,416 shares of the manufacturing equipment provider’s stock worth $174,027,000 after acquiring an additional 3,129,295 shares during the last quarter. American Century Companies Inc. increased its stake in Applied Materials by 25.8% in the 2nd quarter. American Century Companies Inc. now owns 13,874,509 shares of the manufacturing equipment provider’s stock worth $640,864,000 after acquiring an additional 2,844,738 shares during the last quarter. Lansdowne Partners UK LLP increased its stake in Applied Materials by 84.5% in the 2nd quarter. Lansdowne Partners UK LLP now owns 5,059,866 shares of the manufacturing equipment provider’s stock worth $233,714,000 after acquiring an additional 2,316,763 shares during the last quarter. Finally, Fred Alger Management Inc. increased its stake in Applied Materials by 34.4% in the 2nd quarter. Fred Alger Management Inc. now owns 6,835,353 shares of the manufacturing equipment provider’s stock worth $315,725,000 after acquiring an additional 1,751,306 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors.

About Applied Materials (NASDAQ:AMAT)

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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