Applied Materials (AMAT) Given Buy Rating at B. Riley

B. Riley reissued their buy rating on shares of Applied Materials (NASDAQ:AMAT) in a report published on Tuesday morning. They currently have a $71.00 price objective on the manufacturing equipment provider’s stock.

Several other research analysts have also commented on the stock. Susquehanna Bancshares raised shares of Applied Materials from a neutral rating to a positive rating and lifted their price target for the company from $60.00 to $72.00 in a report on Tuesday. UBS Group raised shares of Applied Materials from a neutral rating to a positive rating in a report on Tuesday. BidaskClub lowered shares of Applied Materials from a buy rating to a hold rating in a report on Thursday, January 11th. Vetr lowered shares of Applied Materials from a strong-buy rating to a buy rating and set a $62.50 price target for the company. in a report on Monday, January 8th. Finally, Needham & Company LLC raised shares of Applied Materials from a buy rating to a strong-buy rating and boosted their target price for the company from $66.00 to $72.00 in a research note on Monday, January 8th. One analyst has rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Applied Materials presently has an average rating of Buy and an average price target of $62.74.

Applied Materials (NASDAQ:AMAT) traded up $2.84 during midday trading on Tuesday, hitting $57.34. 17,923,062 shares of the stock traded hands, compared to its average volume of 11,890,000. Applied Materials has a 1-year low of $33.09 and a 1-year high of $60.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. The firm has a market cap of $60,570.00, a price-to-earnings ratio of 18.09, a PEG ratio of 1.05 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the business posted $0.66 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. equities research analysts expect that Applied Materials will post 4.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. Applied Materials’s dividend payout ratio (DPR) is 12.62%.

In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $51.47, for a total transaction of $6,440,183.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 312,716 shares of company stock worth $16,218,746 over the last 90 days. 0.31% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Summit Financial Wealth Advisors LLC raised its position in shares of Applied Materials by 0.3% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock worth $259,000 after buying an additional 19 shares in the last quarter. Wunderlich Capital Managemnt raised its position in shares of Applied Materials by 2.9% during the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares in the last quarter. Albion Financial Group UT raised its position in shares of Applied Materials by 0.8% during the 2nd quarter. Albion Financial Group UT now owns 16,534 shares of the manufacturing equipment provider’s stock worth $683,000 after buying an additional 133 shares in the last quarter. San Francisco Sentry Investment Group CA raised its position in shares of Applied Materials by 1.5% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 11,859 shares of the manufacturing equipment provider’s stock worth $490,000 after buying an additional 173 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Applied Materials by 1.3% during the 2nd quarter. D.A. Davidson & CO. now owns 61,787 shares of the manufacturing equipment provider’s stock worth $2,552,000 after buying an additional 773 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

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Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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