Applied Materials (NASDAQ:AMAT) Shares Gap Up - What's Next?

Shares of Applied Materials, Inc. (NASDAQ:AMAT - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $178.38, but opened at $185.80. Applied Materials shares last traded at $185.01, with a volume of 1,371,347 shares trading hands.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of research reports. Barclays decreased their target price on shares of Applied Materials from $225.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Friday. Evercore ISI decreased their target price on shares of Applied Materials from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Needham & Company LLC decreased their price objective on Applied Materials from $240.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price target on Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Applied Materials has an average rating of "Moderate Buy" and a consensus price target of $217.41.

Applied Materials Trading Up 3.0 %

The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $156.27 billion, a PE ratio of 22.31, a P/E/G ratio of 1.75 and a beta of 1.53. The company has a 50 day simple moving average of $173.10 and a 200 day simple moving average of $191.61.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The firm's revenue was up 4.8% on a year-over-year basis. Analysts predict that Applied Materials, Inc. will post 9.37 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. Applied Materials's dividend payout ratio is presently 18.58%.

Institutional Trading of Applied Materials

Institutional investors and hedge funds have recently modified their holdings of the business. Forum Financial Management LP grew its holdings in Applied Materials by 0.6% during the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider's stock valued at $1,847,000 after buying an additional 53 shares during the last quarter. Merriman Wealth Management LLC grew its holdings in shares of Applied Materials by 4.0% during the second quarter. Merriman Wealth Management LLC now owns 1,438 shares of the manufacturing equipment provider's stock worth $339,000 after buying an additional 55 shares in the last quarter. Sargent Investment Group LLC boosted its position in Applied Materials by 4.0% during the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider's stock worth $286,000 after acquiring an additional 55 shares during the last quarter. Biltmore Family Office LLC boosted its holdings in shares of Applied Materials by 5.3% during the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider's stock worth $221,000 after purchasing an additional 55 shares during the last quarter. Finally, waypoint wealth counsel boosted its stake in Applied Materials by 3.1% in the 3rd quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider's stock worth $374,000 after buying an additional 56 shares during the last quarter. 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.