Deutsche Bank AG restated their buy rating on shares of Applied Materials Inc. (NASDAQ:AMAT) in a report released on Thursday morning. They currently have a $33.00 price objective on the manufacturing equipment provider’s stock.
A number of other research firms also recently issued reports on AMAT. Nomura reissued 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 downgraded 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. Pacific Crest reissued a buy rating on shares of Applied Materials in a research report on Thursday, September 22nd. Citigroup Inc. raised shares of Applied Materials from a neutral rating to a buy rating and increased their target price for the stock from $23.49 to $25.48 in a research report on Wednesday, May 25th. Finally, B. Riley reissued a buy rating and set a $27.00 target price on shares of Applied Materials in a research report on Friday, June 10th. Six 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 stock. The company has a consensus rating of Buy and an average price target of $30.72.
Shares of Applied Materials (NASDAQ:AMAT) opened at 29.64 on Thursday. The stock’s 50 day moving average is $29.21 and its 200 day moving average is $24.44. Applied Materials has a 12 month low of $14.44 and a 12 month high of $31.07. The stock has a market cap of $32.04 billion, a P/E ratio of 23.38 and a beta of 1.79.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The company earned $2.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company posted $0.33 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Analysts predict that Applied Materials will post $1.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 31.25%.
In related news, VP Omkaram Nalamasu sold 99,491 shares of Applied Materials stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $30.15, for a total transaction of $2,999,653.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its position in Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock worth $101,000 after buying an additional 2,418 shares during the last quarter. TLP Group LLC purchased a new position in Applied Materials during the second quarter worth about $105,000. Clean Yield Group raised its position in Applied Materials by 16.5% in the second quarter. Clean Yield Group now owns 4,950 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 700 shares during the last quarter. First PREMIER Bank purchased a new position in Applied Materials during the second quarter worth about $120,000. Finally, NEXT Financial Group Inc raised its position in Applied Materials by 406.1% in the second quarter. NEXT Financial Group Inc now owns 6,605 shares of the manufacturing equipment provider’s stock worth $158,000 after buying an additional 5,300 shares during the last quarter. 82.20% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.