Shares of Applied Materials Inc. (NASDAQ:AMAT) have earned an average rating of “Buy” from the twenty-seven research firms that are currently covering the firm. Six equities research analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.21.
Several analysts have recently commented on the company. B. Riley reissued a “buy” rating and issued a $27.00 price target on shares of Applied Materials in a report on Tuesday, July 5th. Summit Redstone reissued a “buy” rating on shares of Applied Materials in a report on Wednesday, June 29th. Finally, S&P Equity Research set a $31.00 price target on Applied Materials and gave the company a “hold” rating in a report on Sunday, August 21st.
Shares of Applied Materials (NASDAQ:AMAT) opened at 29.75 on Monday. The stock has a market capitalization of $32.16 billion, a PE ratio of 23.46 and a beta of 1.84. The firm has a 50-day moving average price of $29.83 and a 200 day moving average price of $24.93. Applied Materials has a one year low of $15.07 and a one year high of $31.07.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business earned $2.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. On average, equities analysts expect that Applied Materials will post $1.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.
In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Omkaram Nalamasu sold 99,491 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $30.15, for a total value of $2,999,653.65. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Applied Materials during the first quarter worth approximately $335,000. Virginia Retirement System bought a new position in shares of Applied Materials during the first quarter worth approximately $412,000. IFP Advisors Inc boosted its position in shares of Applied Materials by 52.9% in the first quarter. IFP Advisors Inc now owns 8,741 shares of the manufacturing equipment provider’s stock worth $185,000 after buying an additional 3,026 shares in the last quarter. Ngam Advisors L.P. boosted its position in shares of 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 worth $6,845,000 after buying an additional 7,763 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Applied Materials by 4.1% in the first quarter. Franklin Resources Inc. now owns 9,154,680 shares of the manufacturing equipment provider’s stock worth $193,902,000 after buying an additional 359,149 shares in the last quarter. Institutional investors 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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