BidaskClub upgraded shares of Applied Materials (NASDAQ:AMAT) from a hold rating to a buy rating in a report published on Saturday, January 20th.
Other research analysts have also recently issued research reports about the company. B. Riley boosted their price target on Applied Materials from $61.00 to $63.00 and gave the stock a buy rating in a research note on Monday, September 25th. 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 note on Friday, September 22nd. Berenberg Bank reiterated a buy rating and issued a $52.00 price target on shares of Applied Materials in a research note on Thursday, September 28th. Citigroup boosted their price target on Applied Materials from $60.00 to $70.00 and gave the stock a buy rating in a research note on Monday, November 20th. Finally, Nomura reiterated a buy rating and issued a $65.00 price target (up previously from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $62.56.
Shares of Applied Materials (NASDAQ:AMAT) traded up $2.33 during midday trading on Friday, hitting $48.08. The stock had a trading volume of 21,258,164 shares, compared to its average volume of 13,260,000. Applied Materials has a 52 week low of $34.58 and a 52 week high of $60.89. 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 stock has a market capitalization of $50,650.00, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.72.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. sell-side analysts expect that Applied Materials will post 4.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be issued 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 of this dividend is Tuesday, February 20th. Applied Materials’s dividend payout ratio (DPR) is presently 12.62%.
In related news, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total value of $2,833,698.00. The disclosure for this sale can be found here. Insiders have sold 312,716 shares of company stock valued at $16,218,746 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. LeJeune Puetz Investment Counsel LLC bought a new position in Applied Materials in the 3rd quarter worth approximately $105,000. Cerebellum GP LLC bought a new position in Applied Materials during the 4th quarter valued at $122,000. MPS Loria Financial Planners LLC bought a new position in Applied Materials during the 2nd quarter valued at $109,000. First Personal Financial Services boosted its stake in Applied Materials by 281.5% during the 3rd quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Zions Bancorporation boosted its stake in Applied Materials by 349.1% during the 3rd quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 2,049 shares in the last quarter. 80.07% of the stock is owned by institutional investors and hedge funds.
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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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