Why Applied Material (AMAT) Stock Is Climbing In After-Hours Trading Today

NEW YORK (TheStreet) -- Applied Materials (AMAT) shares are climbing, up 0.2% to $21.95, in after-hours trading on Monday after the company announced the approval of a 10 cent per share quarterly cash dividend. 

The dividend is payable on September 11 to shareholders of record as of August 21.

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The company also announced that its corporate venture arm was broadening its portfolio by entering into a series B financing round for Twist Biosciences Corporation.

"Applied Ventures` investment in Twist underscores our investment strategy to use our core strength in precision materials engineering to promote innovation wherever it happens across the world," said General Manager Eileen Tanghal

TheStreet Ratings team rates APPLIED MATERIALS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLIED MATERIALS INC (AMAT) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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