Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reissued by stock analysts at Goldman Sachs Group Inc. in a report issued on Tuesday, StockTargetPrices.com reports. They currently have a $33.00 price objective on the manufacturing equipment provider’s stock. Goldman Sachs Group Inc.’s target price suggests a potential upside of 10.29% from the stock’s previous close.
A number of other research firms have also recently weighed in on AMAT. Nomura reaffirmed a “buy” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Applied Materials in a report on Thursday, June 23rd. Vetr cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Thursday, July 7th. Pacific Crest reissued a “buy” rating on shares of Applied Materials in a research note on Thursday, September 22nd. B. Riley reissued a “buy” rating and set a $27.00 target price on shares of Applied Materials in a research note on Friday, June 10th. Finally, DA Davidson raised shares of Applied Materials from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $28.00 in a research note on Friday, June 24th. 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 company’s stock. The stock has an average rating of “Buy” and a consensus target price of $30.72.
Applied Materials (NASDAQ:AMAT) opened at 29.92 on Tuesday. Applied Materials has a 52-week low of $14.92 and a 52-week high of $31.07. The stock has a 50 day moving average of $29.56 and a 200-day moving average of $24.73. The firm has a market cap of $32.34 billion, a price-to-earnings ratio of 23.60 and a beta of 1.84.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the company earned $0.33 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts expect that Applied Materials will post $1.75 EPS for the current 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 issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s payout ratio is 31.25%.
In related news, VP Omkaram Nalamasu sold 26,035 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $30.15, for a total transaction of $784,955.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Thompson Davis & CO. Inc. boosted its stake 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 stake in Applied Materials during the second quarter valued at approximately $105,000. Clean Yield Group boosted its stake 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 in the last quarter. First PREMIER Bank bought a new stake in Applied Materials during the second quarter valued at approximately $120,000. Finally, NEXT Financial Group Inc boosted its stake 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 in the last quarter. Institutional investors and hedge funds 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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