Applied Materials (NASDAQ:AMAT) PT Lowered to $240.00 at Citigroup

Applied Materials (NASDAQ:AMAT) had its price target lowered by Citigroup from $250.00 to $240.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the manufacturing equipment provider’s stock.

Several other equities analysts also recently commented on AMAT. Susquehanna upped their target price on Applied Materials from $160.00 to $185.00 and gave the company a neutral rating in a research report on Thursday, May 16th. Cantor Fitzgerald upped their price objective on Applied Materials from $260.00 to $290.00 and gave the company an overweight rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on Applied Materials from $230.00 to $240.00 and gave the stock an overweight rating in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Applied Materials in a report on Thursday, April 11th. They issued a hold rating and a $225.00 price objective for the company. Finally, Bank of America raised their target price on shares of Applied Materials from $222.00 to $250.00 and gave the stock a buy rating in a report on Friday, May 17th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $226.00.

Applied Materials Stock Performance

NASDAQ AMAT opened at $190.55 on Monday. The firm has a market capitalization of $157.77 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $224.54 and its two-hundred day moving average price is $208.09. Applied Materials has a 1 year low of $129.21 and a 1 year high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the previous year, the company posted $2.00 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Applied Materials will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s payout ratio is 18.39%.

Insider Buying and Selling

In other Applied Materials news, SVP Teri A. Little sold 2,500 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $221.62, for a total value of $554,050.00. Following the completion of the transaction, the senior vice president now directly owns 76,212 shares in the company, valued at $16,890,103.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the transaction, the senior vice president now directly owns 78,712 shares in the company, valued at approximately $16,767,230.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the transaction, the senior vice president now directly owns 76,212 shares of the company’s stock, valued at approximately $16,890,103.44. The disclosure for this sale can be found here. Insiders have sold 89,827 shares of company stock worth $21,382,560 in the last 90 days. Insiders own 0.29% of the company’s stock.

Institutional Trading of Applied Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the 1st quarter valued at approximately $26,000. PSI Advisors LLC raised its holdings in Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Applied Materials in the 4th quarter worth approximately $27,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Applied Materials in the 1st quarter valued at $35,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.