BidaskClub upgraded shares of Applied Materials (NASDAQ:AMAT) from a strong sell rating to a sell rating in a report released on Friday.
AMAT has been the topic of a number of other research reports. Deutsche Bank lowered their target price on Applied Materials from $60.00 to $58.00 and set a buy rating on the stock in a report on Friday, August 17th. ValuEngine downgraded Applied Materials from a sell rating to a strong sell rating in a report on Thursday, August 23rd. Susquehanna Bancshares lowered their target price on Applied Materials from $73.00 to $65.00 and set a positive rating on the stock in a report on Monday, July 9th. Citigroup lowered their target price on Applied Materials from $68.00 to $57.00 and set a buy rating on the stock in a report on Tuesday, September 25th. Finally, Cowen raised Applied Materials from a market perform rating to an outperform rating and increased their target price for the company from $60.00 to $62.00 in a report on Monday, August 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Applied Materials currently has an average rating of Hold and a consensus price target of $59.50.
Shares of Applied Materials stock traded down $0.08 during trading on Friday, hitting $35.27. 11,908,242 shares of the company’s stock traded hands, compared to its average volume of 14,794,003. Applied Materials has a 1 year low of $30.53 and a 1 year high of $62.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.52 and a quick ratio of 1.67. The stock has a market capitalization of $34.67 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. Applied Materials’s revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts expect that Applied Materials will post 4.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 23rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 24.62%.
Several hedge funds and other institutional investors have recently bought and sold shares of AMAT. Kaizen Advisory LLC raised its stake in shares of Applied Materials by 147.4% in the second quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock worth $118,000 after buying an additional 1,526 shares during the period. Rational Advisors LLC raised its stake in Applied Materials by 5,102.0% during the 2nd quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 2,551 shares during the period. AdvisorNet Financial Inc raised its stake in Applied Materials by 127.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock valued at $141,000 after purchasing an additional 1,709 shares during the period. Whittier Trust Co. raised its stake in Applied Materials by 24.3% during the 2nd quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock valued at $142,000 after purchasing an additional 1,228 shares during the period. Finally, ELM Advisors LLC bought a new stake in Applied Materials during the 3rd quarter valued at approximately $157,000. 77.35% of the stock is currently owned by hedge funds and other institutional investors.
About Applied Materials
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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