ValuEngine lowered shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a report released on Thursday morning.
AMAT has been the subject of a number of other research reports. Vetr cut Applied Materials from a strong-buy rating to a buy rating and set a $63.08 price objective for the company. in a research note on Tuesday, April 17th. Zacks Investment Research cut Applied Materials from a strong-buy rating to a hold rating in a research report on Tuesday, April 17th. UBS raised Applied Materials from a neutral rating to a positive rating in a research report on Tuesday, January 16th. BidaskClub raised Applied Materials from a hold rating to a buy rating in a research report on Thursday, March 1st. Finally, B. Riley reaffirmed a buy rating and set a $71.00 target price on shares of Applied Materials in a research report on Tuesday, January 16th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $64.52.
Shares of Applied Materials stock opened at $51.09 on Thursday. The company has a quick ratio of 2.25, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. Applied Materials has a 52 week low of $39.47 and a 52 week high of $62.40. The company has a market capitalization of $53,784.67, a price-to-earnings ratio of 15.72, a PEG ratio of 0.88 and a beta of 1.63.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the firm posted $0.67 earnings per share. research analysts predict 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. Investors of record on Thursday, May 24th will be issued a dividend of $0.20 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio (DPR) is 12.31%.
Applied Materials announced that its Board of Directors has approved a share buyback program on Wednesday, February 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In related news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the sale, the director now directly owns 76,967 shares in the company, valued at $4,731,161.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.
A number of institutional investors have recently modified their holdings of AMAT. BlackRock Inc. raised its stake in shares of Applied Materials by 1.8% in the fourth 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. Geode Capital Management LLC raised its stake in shares of Applied Materials by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 12,968,458 shares of the manufacturing equipment provider’s stock valued at $661,743,000 after buying an additional 234,528 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Applied Materials by 10.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock valued at $568,507,000 after buying an additional 1,033,700 shares during the period. Lansdowne Partners UK LLP bought a new stake in shares of Applied Materials in the fourth quarter valued at $370,984,000. Finally, Prudential Financial Inc. raised its stake in shares of Applied Materials by 1.1% in the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after buying an additional 64,186 shares during the period. Institutional investors and hedge funds own 79.33% of the company’s stock.
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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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