Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “sector perform” rating reaffirmed by Royal Bank of Canada in a report issued on Friday. They presently have a $46.00 target price on the manufacturing equipment provider’s stock, up from their prior target price of $35.00. Royal Bank of Canada’s target price points to a potential upside of 4.36% from the company’s previous close.
AMAT has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Applied Materials in a research note on Friday, February 24th. Instinet raised their price objective on Applied Materials from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, February 17th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 price objective on the stock in a research note on Tuesday, April 11th. Finally, Cowen and Company raised their price objective on Applied Materials from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $40.63.
Applied Materials (NASDAQ:AMAT) traded up 0.39% on Friday, reaching $44.08. The company’s stock had a trading volume of 23,338,575 shares. The stock has a market cap of $47.60 billion, a P/E ratio of 22.67 and a beta of 1.81. The stock has a 50-day moving average of $40.59 and a 200-day moving average of $35.57. Applied Materials has a one year low of $21.70 and a one year high of $45.74. Applied Materials also was the recipient of unusually large options trading on Thursday. Traders bought 19,944 put options on the stock. This is an increase of approximately 555% compared to the typical daily volume of 3,043 put options.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 44.7% compared to the same quarter last year. On average, analysts predict that Applied Materials will post $2.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 25th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, May 23rd. Applied Materials’s dividend payout ratio (DPR) is 25.64%.
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Institutional investors have recently made changes to their positions in the company. Reilly Financial Advisors LLC boosted its position in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares during the period. Pinnacle Bank bought a new position in shares of Applied Materials during the first quarter worth approximately $113,000. State of Alaska Department of Revenue bought a new position in shares of Applied Materials during the first quarter worth approximately $114,000. James Investment Research Inc. boosted its position in shares of Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the period. Finally, Independent Advisor Alliance bought a new position in shares of Applied Materials during the fourth quarter worth approximately $105,000. Hedge funds and other institutional investors own 82.52% of the company’s stock.
Applied Materials Company Profile
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