Applied Materials (NASDAQ:AMAT) PT Raised to $70.00

Applied Materials (NASDAQ:AMAT) had its price objective hoisted by Craig Hallum from $58.00 to $70.00 in a report published on Friday, The Fly reports. They currently have a buy rating on the manufacturing equipment provider’s stock.

Several other analysts have also issued reports on the company. Citigroup boosted their price target on Applied Materials from $54.00 to $62.00 and gave the company a buy rating in a report on Monday, September 23rd. Wells Fargo & Co boosted their price objective on Applied Materials from $62.00 to $67.00 and gave the company an outperform rating in a research report on Friday. Morgan Stanley boosted their price objective on Applied Materials from $40.00 to $43.00 and gave the company an equal weight rating in a research report on Friday, August 16th. Royal Bank of Canada boosted their price objective on Applied Materials from $63.00 to $67.00 and gave the company an outperform rating in a research report on Friday. Finally, Susquehanna Bancshares restated a buy rating and issued a $80.00 price objective (up from $70.00) on shares of Applied Materials in a research report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Applied Materials currently has an average rating of Buy and a consensus target price of $62.91.

NASDAQ:AMAT traded down $0.61 during mid-day trading on Friday, hitting $61.74. 310,867 shares of the company traded hands, compared to its average volume of 7,565,617. The stock’s fifty day moving average price is $53.95 and its 200-day moving average price is $47.59. Applied Materials has a one year low of $28.79 and a one year high of $63.07. The company has a quick ratio of 1.51, a current ratio of 2.30 and a debt-to-equity ratio of 0.57. The firm has a market cap of $57.33 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 3.74 and a beta of 1.66.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.04. Applied Materials had a return on equity of 35.13% and a net margin of 18.52%. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. Applied Materials’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that Applied Materials will post 3.32 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.36%. Applied Materials’s dividend payout ratio is currently 27.63%.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

In related news, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Steve G. Ghanayem sold 25,727 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total value of $1,340,891.24. The disclosure for this sale can be found here. Insiders sold 53,945 shares of company stock worth $2,776,105 over the last quarter. 0.44% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. MUFG Americas Holdings Corp lifted its position in shares of Applied Materials by 2.8% in the third quarter. MUFG Americas Holdings Corp now owns 368,251 shares of the manufacturing equipment provider’s stock worth $18,376,000 after buying an additional 9,950 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Applied Materials by 8.1% in the third quarter. Cetera Investment Advisers now owns 20,434 shares of the manufacturing equipment provider’s stock worth $1,018,000 after buying an additional 1,533 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in shares of Applied Materials by 4.8% in the third quarter. First Allied Advisory Services Inc. now owns 62,998 shares of the manufacturing equipment provider’s stock worth $3,134,000 after buying an additional 2,876 shares in the last quarter. Trillium Asset Management LLC lifted its position in shares of Applied Materials by 2.8% in the third quarter. Trillium Asset Management LLC now owns 79,649 shares of the manufacturing equipment provider’s stock worth $3,975,000 after buying an additional 2,162 shares in the last quarter. Finally, Rational Advisors LLC lifted its position in shares of Applied Materials by 2,757.3% in the third quarter. Rational Advisors LLC now owns 6,829 shares of the manufacturing equipment provider’s stock worth $341,000 after buying an additional 6,590 shares in the last quarter. Institutional investors own 77.70% of the company’s stock.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

Featured Article: Market Indexes

The Fly

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Leave a Reply

Your email address will not be published. Required fields are marked *

*