Applied Materials (NASDAQ:AMAT) had its target price hoisted by Stifel Nicolaus from $66.00 to $71.00 in a research note published on Thursday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the manufacturing equipment provider’s stock.
Several other equities research analysts have also recently weighed in on the company. KeyCorp increased their target price on Applied Materials from $67.00 to $74.00 and gave the company an overweight rating in a report on Thursday. Zacks Investment Research cut Applied Materials from a buy rating to a hold rating in a report on Tuesday, February 13th. ValuEngine upgraded Applied Materials from a hold rating to a buy rating in a report on Friday, February 2nd. Vetr cut Applied Materials from a strong-buy rating to a buy rating and set a $57.92 target price for the company. in a report on Thursday, February 1st. Finally, BidaskClub cut Applied Materials from a buy rating to a hold rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Applied Materials presently has a consensus rating of Buy and an average price target of $63.84.
Applied Materials (AMAT) opened at $55.03 on Thursday. Applied Materials has a fifty-two week low of $34.72 and a fifty-two week high of $60.89. The company has a quick ratio of 2.43, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $57,980.00, a PE ratio of 15.33, a PEG ratio of 1.04 and a beta of 1.72.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the business earned $0.67 EPS. research analysts anticipate that Applied Materials will post 4.33 earnings per share for the current fiscal year.
Applied Materials announced that its board has authorized a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, May 23rd. This represents a $0.80 annualized dividend and a yield of 1.45%. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is 11.14%.
In other Applied Materials 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ali Salehpour sold 125,125 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,716 shares of company stock valued at $16,218,746. Company insiders own 0.35% of the company’s stock.
Several large investors have recently made changes to their positions in AMAT. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Applied Materials in the 3rd quarter worth approximately $105,000. Financial Gravity Companies Inc. bought a new position in shares of Applied Materials in the 4th quarter worth approximately $110,000. Risk Paradigm Group LLC bought a new position in shares of Applied Materials in the 4th quarter worth approximately $110,000. Cerebellum GP LLC bought a new position in shares of Applied Materials in the 4th quarter worth approximately $122,000. Finally, First Personal Financial Services raised its position in shares of Applied Materials by 281.5% in the 3rd quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock worth $134,000 after acquiring an additional 1,900 shares in the last quarter. 79.30% of the stock is owned by hedge funds and other institutional investors.
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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