Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “sector perform” rating reiterated by analysts at RBC Capital Markets in a research report issued to clients and investors on Friday.
Several other equities analysts also recently commented on the company. Credit Suisse Group AG raised their target price on Applied Materials from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 9th. Citigroup Inc. raised their target price on Applied Materials from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 19th. Morgan Stanley restated a “buy” rating and set a $25.00 target price on shares of Applied Materials in a research report on Tuesday, August 16th. Stifel Nicolaus raised their target price on Applied Materials from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 target price (up previously from $29.00) on shares of Applied Materials in a research report on Sunday, August 21st. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Applied Materials currently has an average rating of “Buy” and an average target price of $30.72.
Applied Materials (NASDAQ:AMAT) opened at 29.35 on Friday. Applied Materials has a 52 week low of $14.33 and a 52 week high of $31.07. The company’s 50-day moving average price is $29.13 and its 200 day moving average price is $24.38. The company has a market cap of $31.72 billion, a PE ratio of 23.15 and a beta of 1.79.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The business earned $2.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. Applied Materials’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. On average, analysts anticipate that Applied Materials will post $1.75 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.36%. Applied Materials’s payout ratio is presently 31.25%.
In related news, VP Omkaram Nalamasu sold 99,491 shares of the company’s 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 at this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s 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. Corporate insiders own 0.25% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in AMAT. Legal & General Group Plc raised its stake in Applied Materials by 2.4% in the first quarter. Legal & General Group Plc now owns 5,063,202 shares of the manufacturing equipment provider’s stock valued at $107,236,000 after buying an additional 119,577 shares during the last quarter. AXA raised its stake in Applied Materials by 460.6% in the first quarter. AXA now owns 39,800 shares of the manufacturing equipment provider’s stock valued at $843,000 after buying an additional 32,700 shares during the last quarter. Pensionfund Sabic bought a new stake in Applied Materials during the second quarter valued at about $1,966,000. Acadian Asset Management LLC raised its stake in Applied Materials by 117.3% in the second quarter. Acadian Asset Management LLC now owns 34,382 shares of the manufacturing equipment provider’s stock valued at $824,000 after buying an additional 18,559 shares during the last quarter. Finally, Hanseatic Management Services Inc. bought a new stake in Applied Materials during the second quarter valued at about $534,000. Institutional investors and hedge funds own 82.20% of the company’s stock.
About Applied Materials
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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