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Top Quartile Ranked Dividend Stock AMAT Enters Oversold Territory

By Dividend Channel Staff, Friday, June 1, 4:27 PM ET
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The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics strong fundamentals and a valuation that looks inexpensive. Applied Materials, Inc. (NASDAQ:AMAT) presently has an excellent rank, in the top 25% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.

But making Applied Materials, Inc. an even more interesting and timely stock to look at, is the fact that in trading on Friday, shares of AMAT entered into oversold territory, changing hands as low as $9.98 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Applied Materials, Inc., the RSI reading has hit 28.8 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 39.8. A falling stock price all else being equal creates a better opportunity for dividend investors to capture a higher yield. Indeed, AMAT's recent annualized dividend of 0.36/share (currently paid in quarterly installments) works out to an annual yield of 3.49% based upon the recent $10.33 share price.

A bullish investor could look at AMAT's 28.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on AMAT is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

AMAT Dividend History
Date Div*
05/22/12 0.090
02/21/12 0.080
11/21/11 0.080
08/29/11 0.080
05/27/11 0.080
02/28/11 0.070
11/22/10 0.070
08/23/10 0.070
05/24/10 0.070
02/22/10 0.060
11/09/09 0.060
08/11/09 0.060
05/12/09 0.060
02/10/09 0.060
11/10/08 0.060
08/12/08 0.060
05/13/08 0.060
02/12/08 0.060
11/13/07 0.060
08/14/07 0.060
05/15/07 0.060
02/13/07 0.050
11/14/06 0.050
08/15/06 0.050
05/16/06 0.050
02/14/06 0.030
11/15/05 0.030
08/15/05 0.030
05/16/05 0.030
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.

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According to the ETF Finder at ETF Channel, AMAT makes up 7.64% of the iShares PHLX SOX Semiconductor Sector Index Fund ETF (NASDAQ:SOXX) which is trading lower by about 4% on the day Friday.

See what other ETFs contain AMAT
See what other stocks are held by SOXX

This Article's Word Cloud:   AMAT   Applied   Channel   Dividend   Friday   Index   Materials   SOXX   Sector   afterLeftLabels   always   below   better   bullish   changing   chartBackgroundColor   coverage   currently   data   dividend   escape   fillColor   formula   heavy   history   inexpensive   interesting   investors   judging   look   makes   most   movingAverages   other   oversold   price   reading   recent   share   stock   stocks   technical   territory   that   trading   universe   what   which   with   yield

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