Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reaffirmed by Nomura in a note issued to investors on Thursday. They presently have a $31.00 price objective on the manufacturing equipment provider’s stock. Nomura’s target price suggests a potential upside of 1.41% from the company’s previous close.
AMAT has been the topic of a number of other research reports. B. Riley reaffirmed a “buy” rating and set a $27.00 price objective on shares of Applied Materials in a research note on Friday, June 10th. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Monday, June 13th. Summit Redstone reaffirmed a “buy” rating on shares of Applied Materials in a research note on Wednesday, June 29th. Finally, S&P Equity Research set a $31.00 price objective on shares of Applied Materials and gave the stock a “hold” rating in a research note on Sunday, August 21st. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $30.72.
Applied Materials (NASDAQ:AMAT) traded down 0.56% during midday trading on Thursday, reaching $30.40. 6,502,346 shares of the company were exchanged. Applied Materials has a 52 week low of $14.29 and a 52 week high of $31.07. The stock has a market capitalization of $32.86 billion, a P/E ratio of 23.97 and a beta of 1.79. The firm’s 50 day moving average price is $28.85 and its 200-day moving average price is $24.11.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.84 billion. During the same period last year, the firm posted $0.33 EPS. Applied Materials’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts forecast that Applied Materials will post $1.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is currently 31.25%.
In other Applied Materials news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Omkaram Nalamasu sold 26,035 shares of Applied Materials stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $30.15, for a total value of $784,955.25. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. increased 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 valued at $101,000 after buying an additional 2,418 shares in the last quarter. TLP Group LLC bought a new position in shares of Applied Materials during the second quarter worth approximately $105,000. Clean Yield Group increased its position in shares of 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 in the last quarter. First PREMIER Bank bought a new position in shares of Applied Materials during the second quarter worth approximately $120,000. Finally, NEXT Financial Group Inc increased its position in shares of 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 in the last quarter. 82.20% of the stock is owned by 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.
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