Applied Materials, Inc. (NASDAQ:AMAT) shares traded down 0.4% on Monday after Nomura lowered their price target on the stock from $65.00 to $60.00. Nomura currently has a buy rating on the stock. Applied Materials traded as low as $42.62 and last traded at $43.68. 454,021 shares were traded during trading, a decline of 97% from the average session volume of 13,810,888 shares. The stock had previously closed at $43.85.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada reiterated a “hold” rating and set a $50.00 price target on shares of Applied Materials in a research report on Friday. Bank of America reduced their price target on Applied Materials from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday. B. Riley reduced their price target on Applied Materials from $70.00 to $63.00 and set a “buy” rating for the company in a research report on Friday. Deutsche Bank reduced their price target on Applied Materials from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup reduced their price target on Applied Materials from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials currently has a consensus rating of “Buy” and an average target price of $61.44.

Several institutional investors have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. increased its position in shares of Applied Materials by 368.3% during the first quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock worth $114,000 after purchasing an additional 1,617 shares in the last quarter. Kaizen Advisory LLC increased its position in shares of Applied Materials by 147.4% during the second quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock worth $118,000 after purchasing an additional 1,526 shares in the last quarter. Rational Advisors LLC increased its position in shares of Applied Materials by 5,102.0% during the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock worth $120,000 after purchasing an additional 2,551 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Applied Materials by 127.1% during the second quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock worth $141,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Whittier Trust Co. increased its position in shares of Applied Materials by 24.3% during the second quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock worth $142,000 after purchasing an additional 1,228 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

The company has a quick ratio of 1.83, a current ratio of 2.60 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $48.52 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.80 and a beta of 1.63.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. analysts expect that Applied Materials, Inc. will post 4.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 23rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, August 22nd. Applied Materials’s payout ratio is 24.62%.

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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