Applied Materials’ (AMAT) “Buy” Rating Reiterated at Susquehanna Bancshares

Susquehanna Bancshares reaffirmed their buy rating on shares of Applied Materials (NASDAQ:AMAT) in a research report sent to investors on Friday, Briefing.com Automated Import reports. They currently have a $80.00 target price on the manufacturing equipment provider’s stock, up from their prior target price of $70.00.

A number of other analysts have also recently commented on the company. ValuEngine cut Applied Materials from a buy rating to a hold rating in a research report on Tuesday, August 6th. Stifel Nicolaus lifted their price target on Applied Materials from $57.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, November 12th. Morgan Stanley lifted their price target on Applied Materials from $40.00 to $43.00 and gave the stock an equal weight rating in a research report on Friday, August 16th. Royal Bank of Canada lifted their price target on Applied Materials from $63.00 to $67.00 and gave the stock an outperform rating in a research report on Friday. Finally, Citigroup lifted their price target on Applied Materials from $54.00 to $62.00 and gave the stock a buy rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Applied Materials presently has an average rating of Buy and an average price target of $62.91.

AMAT stock traded up $0.29 on Friday, hitting $62.35. 10,412,800 shares of the company’s stock were exchanged, compared to its average volume of 9,229,310. Applied Materials has a 12-month low of $28.79 and a 12-month high of $63.07. The firm has a 50 day moving average price of $53.95 and a two-hundred day moving average price of $47.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The stock has a market cap of $52.62 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 3.45 and a beta of 1.66.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.04. Applied Materials had a return on equity of 35.17% and a net margin of 18.52%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the business earned $0.97 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts expect that Applied Materials will post 3.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. Applied Materials’s dividend payout ratio (DPR) is presently 27.63%.

In other news, Director Stephen R. Forrest sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total value of $138,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $51.44, for a total value of $1,297,213.92. The disclosure for this sale can be found here. In the last three months, insiders sold 53,945 shares of company stock valued at $2,776,105. Insiders own 0.44% of the company’s stock.

Several hedge funds have recently modified their holdings of AMAT. JNBA Financial Advisors increased its stake in shares of Applied Materials by 0.8% in the 2nd quarter. JNBA Financial Advisors now owns 24,070 shares of the manufacturing equipment provider’s stock valued at $1,081,000 after purchasing an additional 200 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Applied Materials by 5.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,837 shares of the manufacturing equipment provider’s stock valued at $181,000 after purchasing an additional 215 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Applied Materials by 3.9% in the 3rd quarter. Park Avenue Securities LLC now owns 6,564 shares of the manufacturing equipment provider’s stock valued at $328,000 after purchasing an additional 244 shares in the last quarter. Hartford Financial Management Inc. increased its stake in shares of Applied Materials by 0.6% in the 2nd quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock valued at $1,926,000 after purchasing an additional 248 shares in the last quarter. Finally, ETRADE Capital Management LLC increased its stake in shares of Applied Materials by 3.3% in the 2nd quarter. ETRADE Capital Management LLC now owns 7,725 shares of the manufacturing equipment provider’s stock valued at $347,000 after purchasing an additional 248 shares in the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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