Applied Materials, Inc. (NASDAQ:AMAT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $38.90, but opened at $40.35. Applied Materials shares last traded at $41.14, with a volume of 4196041 shares trading hands.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Applied Materials in a research note on Sunday. Citigroup raised their target price on shares of Applied Materials from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Co raised their target price on shares of Applied Materials from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group raised their target price on shares of Applied Materials from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. Applied Materials currently has an average rating of “Buy” and a consensus price target of $52.57.

The firm has a market cap of $38.94 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.79 and a beta of 1.66. The company has a current ratio of 2.72, a quick ratio of 1.74 and a debt-to-equity ratio of 0.65.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 49.38%. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the business posted $1.22 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, equities analysts expect that Applied Materials, Inc. will post 2.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s dividend payout ratio (DPR) is 17.98%.

In related news, SVP Steve G. Ghanayem sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total transaction of $1,067,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Omkaram Nalamasu sold 143,255 shares of Applied Materials stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $40.73, for a total value of $5,834,776.15. The disclosure for this sale can be found here. Insiders sold a total of 170,255 shares of company stock worth $6,987,176 over the last quarter. Company insiders own 0.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC grew its holdings in Applied Materials by 57.7% in the first quarter. Cerebellum GP LLC now owns 8,161 shares of the manufacturing equipment provider’s stock worth $324,000 after purchasing an additional 2,985 shares during the last quarter. Allstate Corp grew its holdings in Applied Materials by 23.3% in the first quarter. Allstate Corp now owns 51,131 shares of the manufacturing equipment provider’s stock worth $2,028,000 after purchasing an additional 9,678 shares during the last quarter. First Dallas Securities Inc. grew its holdings in Applied Materials by 6.7% in the first quarter. First Dallas Securities Inc. now owns 13,450 shares of the manufacturing equipment provider’s stock worth $533,000 after purchasing an additional 850 shares during the last quarter. Front Row Advisors LLC grew its holdings in Applied Materials by 283.6% in the first quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 607 shares during the last quarter. Finally, Horizon Investments LLC purchased a new position in Applied Materials in the first quarter worth $230,000. Institutional investors and hedge funds own 78.26% of the company’s stock.

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Applied Materials Company Profile (NASDAQ:AMAT)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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