Applied Materials Inc. (NASDAQ:AMAT) had its price target hoisted by Berenberg Bank from $30.00 to $35.00 in a report released on Thursday. The firm currently has a buy rating on the manufacturing equipment provider’s stock.
A number of other brokerages have also recently issued reports on AMAT. Nomura restated a buy rating and set a $28.00 target price (up previously from $25.00) on shares of Applied Materials in a research report on Thursday, June 23rd. Vetr cut shares of Applied Materials from a buy rating to a hold rating and set a $25.00 target price for the company. in a research report on Thursday, July 7th. Citigroup Inc. upgraded shares of Applied Materials from a neutral rating to a buy rating and lifted their target price for the stock from $23.49 to $25.48 in a research report on Wednesday, May 25th. B. Riley restated a buy rating and set a $27.00 target price on shares of Applied Materials in a research report on Friday, June 10th. Finally, Goldman Sachs Group Inc. lifted their target price on shares of Applied Materials from $25.00 to $27.00 and gave the stock a buy rating in a research report on Thursday, June 2nd. Six investment analysts have rated the stock with a hold rating, nineteen have assigned 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 an average target price of $30.72.
Shares of Applied Materials (NASDAQ:AMAT) opened at 29.35 on Thursday. The firm has a market cap of $31.72 billion, a P/E ratio of 23.15 and a beta of 1.79. Applied Materials has a 12-month low of $14.33 and a 12-month high of $31.07. The firm has a 50-day moving average of $29.13 and a 200-day moving average of $24.38.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities analysts forecast that Applied Materials will post $1.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.36%. Applied Materials’s dividend payout ratio is currently 31.25%.
In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Omkaram Nalamasu sold 99,491 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $30.15, for a total transaction of $2,999,653.65. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Teachers Advisors Inc. increased its stake in Applied Materials by 63.8% in the first quarter. Teachers Advisors Inc. now owns 5,210,641 shares of the manufacturing equipment provider’s stock valued at $110,361,000 after buying an additional 2,030,178 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Applied Materials by 35.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,948,114 shares of the manufacturing equipment provider’s stock valued at $231,881,000 after buying an additional 2,885,695 shares in the last quarter. Ngam Advisors L.P. increased its stake in Applied Materials by 2.5% in the first quarter. Ngam Advisors L.P. now owns 323,214 shares of the manufacturing equipment provider’s stock valued at $6,845,000 after buying an additional 7,763 shares in the last quarter. Morris Capital Advisors LLC acquired a new stake in Applied Materials during the first quarter valued at about $283,000. Finally, CIBC World Markets Inc. acquired a new stake in Applied Materials during the first quarter valued at about $3,495,000. Institutional investors own 82.20% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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