Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reiterated by Nomura in a research report issued to clients and investors on Thursday. They presently have a $31.00 price target on the manufacturing equipment provider’s stock. Nomura’s price objective indicates a potential upside of 4.52% from the stock’s current price.
A number of other analysts have also recently issued reports on AMAT. B. Riley raised Applied Materials to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, May 25th. Citigroup Inc. upgraded Applied Materials from a “neutral” rating to a “buy” rating and raised their target price for the company from $23.49 to $25.48 in a report on Wednesday, May 25th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Wednesday, May 25th. Stifel Nicolaus raised their target price on Applied Materials from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, May 27th. Finally, Goldman Sachs Group Inc. raised their target price on Applied Materials from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, June 2nd. Six equities research 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 company. Applied Materials currently has an average rating of “Buy” and an average price target of $30.72.
Applied Materials (NASDAQ:AMAT) opened at 29.66 on Thursday. Applied Materials has a 12-month low of $14.33 and a 12-month high of $31.07. The firm’s 50-day moving average price is $29.06 and its 200-day moving average price is $24.23. The company has a market cap of $32.06 billion, a P/E ratio of 23.39 and a beta of 1.79.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm 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 business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. Analysts expect that Applied Materials will post $1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.
In related news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Omkaram Nalamasu sold 26,035 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Thompson Davis & CO. Inc. boosted 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 during the period. TLP Group LLC bought a new position in Applied Materials during the second quarter valued at $105,000. Clean Yield Group boosted 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 valued at $119,000 after buying an additional 700 shares during the period. First PREMIER Bank bought a new position in Applied Materials during the second quarter valued at $120,000. Finally, NEXT Financial Group Inc boosted 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 valued at $158,000 after buying an additional 5,300 shares during the period. Hedge funds and other institutional investors own 82.20% of the company’s stock.
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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