Vetr downgraded shares of Applied Materials (NASDAQ:AMAT) from a strong-buy rating to a buy rating in a research note released on Wednesday, January 17th. Vetr currently has $63.00 price objective on the manufacturing equipment provider’s stock.
Other research analysts also recently issued reports about the company. B. Riley lifted their price target on Applied Materials from $61.00 to $63.00 and gave the company a buy rating in a report on Monday, September 25th. Berenberg Bank reissued a buy rating and issued a $52.00 price objective on shares of Applied Materials in a research report on Thursday, September 28th. Citigroup raised their price objective on Applied Materials from $60.00 to $70.00 and gave the stock a buy rating in a research report on Monday, November 20th. Nomura reissued a buy rating and issued a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a research report on Tuesday, November 21st. Finally, Craig Hallum reissued a buy rating and issued a $76.00 price objective (up previously from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. One analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $62.56.
Shares of Applied Materials (AMAT) traded up $1.42 during trading hours on Wednesday, hitting $49.50. The stock had a trading volume of 16,290,000 shares, compared to its average volume of 13,260,000. Applied Materials has a twelve month low of $34.58 and a twelve month high of $60.89. The stock has a market cap of $52,150.00, a P/E ratio of 15.62, a PEG ratio of 0.94 and a beta of 1.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the business posted $0.66 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. sell-side analysts forecast that Applied Materials will post 4.04 EPS for the current fiscal year.
The company 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 is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a yield of 0.81%. Applied Materials’s dividend payout ratio is currently 12.62%.
In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Applied Materials by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock valued at $3,101,736,000 after buying an additional 1,721,964 shares during the period. BlackRock Inc. lifted its holdings in shares of Applied Materials by 1.8% in the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock valued at $3,521,655,000 after buying an additional 1,248,388 shares during the period. State Street Corp lifted its holdings in shares of Applied Materials by 2.1% in the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock valued at $2,019,939,000 after buying an additional 985,296 shares during the period. Capital Research Global Investors lifted its holdings in shares of Applied Materials by 14.8% in the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after buying an additional 2,284,836 shares during the period. Finally, Egerton Capital UK LLP lifted its holdings in shares of Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after buying an additional 3,184,994 shares during the period. 79.30% of the stock is owned by institutional investors and hedge funds.
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About Applied Materials
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.
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