Applied Materials (NASDAQ:AMAT) Stock Price Up 0%

Applied Materials, Inc. (NASDAQ:AMAT)’s stock price shot up 0% on Tuesday . The company traded as high as $178.51 and last traded at $177.58. 939,283 shares traded hands during trading, a decline of 84% from the average session volume of 6,045,610 shares. The stock had previously closed at $177.55.

Analyst Ratings Changes

AMAT has been the subject of a number of recent research reports. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $165.00 to $225.00 in a research note on Wednesday, June 5th. Susquehanna increased their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Mizuho boosted their target price on shares of Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, UBS Group lowered their target price on Applied Materials from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $233.14.

Applied Materials Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The stock’s fifty day simple moving average is $206.36 and its 200-day simple moving average is $210.95. The company has a market capitalization of $153.95 billion, a P/E ratio of 21.37, a PEG ratio of 2.08 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Applied Materials’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Materials

In related news, insider Prabu G. Raja sold 50,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the completion of the sale, the insider now owns 458,417 shares in the company, valued at approximately $114,223,763.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the transaction, the director now directly owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the completion of the sale, the insider now owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazari Capital Management Inc. boosted its position in shares of Applied Materials by 15.8% during the second quarter. Lazari Capital Management Inc. now owns 1,268 shares of the manufacturing equipment provider’s stock worth $299,000 after purchasing an additional 173 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Applied Materials during the second quarter worth about $13,521,000. Clearbridge Investments LLC grew its stake in Applied Materials by 51.0% in the second quarter. Clearbridge Investments LLC now owns 11,812 shares of the manufacturing equipment provider’s stock valued at $2,788,000 after acquiring an additional 3,990 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Applied Materials in the second quarter worth about $419,000. Finally, Heartland Bank & Trust Co acquired a new stake in shares of Applied Materials during the second quarter worth about $396,000. 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.