UBS assumed coverage on shares of Applied Materials (NASDAQ:AMAT) in a research report sent to investors on Wednesday morning, 247wallst.com reports. The brokerage issued a neutral rating and a $58.00 price objective on the manufacturing equipment provider’s stock.
Other research analysts also recently issued research reports about the company. Vetr downgraded Applied Materials from a strong-buy rating to a buy rating and set a $62.50 price target on the stock. in a research note on Monday, January 8th. BidaskClub upgraded Applied Materials from a hold rating to a buy rating in a research note on Wednesday, December 20th. B. Riley restated a buy rating and set a $71.00 price target on shares of Applied Materials in a research note on Tuesday, January 16th. ValuEngine upgraded Applied Materials from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus raised their price target on Applied Materials from $66.00 to $71.00 and gave the stock a buy rating in a research note on Thursday, February 15th. One investment 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. The company presently has an average rating of Buy and a consensus price target of $64.66.
Shares of NASDAQ AMAT opened at $52.34 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62. Applied Materials has a fifty-two week low of $37.41 and a fifty-two week high of $62.40. The stock has a market cap of $57,041.80, a PE ratio of 16.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same quarter last year, the business posted $0.67 EPS. equities analysts forecast that Applied Materials will post 4.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be issued a $0.20 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s dividend payout ratio (DPR) is currently 12.31%.
Applied Materials announced that its board has approved a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Thomas J. Iannotti sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total value of $922,050.00. Following the completion of the sale, the director now directly owns 76,967 shares of the company’s stock, valued at approximately $4,731,161.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of AMAT. Lansdowne Partners UK LLP acquired a new stake in shares of Applied Materials in the 4th quarter valued at approximately $370,984,000. Jackson Square Partners LLC acquired a new position in Applied Materials during the fourth quarter worth $284,833,000. Macquarie Group Ltd. raised its holdings in Applied Materials by 631.8% during the fourth quarter. Macquarie Group Ltd. now owns 1,962,471 shares of the manufacturing equipment provider’s stock worth $100,438,000 after purchasing an additional 1,694,283 shares during the last quarter. BlackRock Inc. raised its holdings in Applied Materials by 1.8% during the fourth quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after purchasing an additional 1,248,388 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Applied Materials by 10.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock worth $568,507,000 after purchasing an additional 1,033,700 shares during the last quarter. 79.29% of the stock is owned by institutional investors and hedge funds.
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Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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