B. Riley restated their buy rating on shares of Applied Materials (NASDAQ:AMAT) in a report issued on Tuesday, January 16th. The firm currently has a $71.00 price objective on the manufacturing equipment provider’s stock.
A number of other analysts have also recently weighed in on AMAT. Vetr upgraded Applied Materials from a hold rating to a buy rating and set a $49.11 price target on the stock in a research report on Friday, September 22nd. Needham & Company LLC restated a buy rating and issued a $54.00 target price on shares of Applied Materials in a research report on Monday, September 25th. DA Davidson restated a buy rating and issued a $55.00 target price on shares of Applied Materials in a research report on Monday, September 25th. Credit Suisse Group restated a buy rating and issued a $62.00 target price on shares of Applied Materials in a research report on Tuesday, September 26th. Finally, Craig Hallum restated a buy rating and issued a $76.00 target price (up from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. One research analyst has rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $62.56.
Shares of Applied Materials (AMAT) traded up $2.33 during trading on Tuesday, hitting $48.08. The stock had a trading volume of 21,258,164 shares, compared to its average volume of 13,260,000. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. The firm has a market cap of $50,650.00, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.72. Applied Materials has a fifty-two week low of $34.58 and a fifty-two week high of $60.89.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. research analysts forecast that Applied Materials will post 4.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, February 20th. Applied Materials’s dividend payout ratio is presently 12.62%.
In other news, VP Ali Salehpour sold 125,125 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,716 shares of company stock valued at $16,218,746. Corporate insiders own 0.35% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of Applied Materials by 390.4% in the second quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock worth $472,835,000 after buying an additional 9,112,328 shares during the period. Egerton Capital UK LLP boosted its position in shares of Applied Materials by 23.2% in the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after buying an additional 3,184,994 shares during the period. Capital Research Global Investors boosted its position in shares of Applied Materials by 14.8% in the second quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock worth $732,213,000 after buying an additional 2,284,836 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Applied Materials by 108.7% in the second quarter. Parametric Portfolio Associates LLC now owns 3,690,615 shares of the manufacturing equipment provider’s stock worth $152,459,000 after buying an additional 1,922,233 shares during the period. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Applied Materials in the third quarter worth $97,804,000. 80.07% of the stock is owned by institutional investors and hedge funds.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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