Applied Materials (AMAT) PT Raised to $70.00

Applied Materials (NASDAQ:AMAT) had its target price boosted by J P Morgan Chase & Co to $70.00 in a report issued on Friday, November 17th. They currently have an overweight rating on the manufacturing equipment provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank boosted their price target on Applied Materials from $58.00 to $65.00 and gave the company a buy rating in a report on Friday, November 17th. Needham & Company LLC boosted their price target on Applied Materials to $66.00 and gave the company a positive rating in a report on Friday, November 17th. Credit Suisse Group upped their price objective on Applied Materials from $62.00 to $72.00 and gave the stock an outperform rating in a research note on Friday, November 17th. Royal Bank Of Canada upped their price objective on Applied Materials from $55.00 to $64.00 and gave the stock an outperform rating in a research note on Friday, November 17th. Finally, Bank of America upped their price objective on Applied Materials from $65.00 to $76.00 and gave the stock a buy rating in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $60.99.

Applied Materials (NASDAQ AMAT) opened at $51.91 on Friday. Applied Materials has a 52-week low of $30.06 and a 52-week high of $60.89. The stock has a market capitalization of $55,361.34, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.99 and a beta of 1.80. 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 issued its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share 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 during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the business earned $0.66 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. equities research analysts anticipate that Applied Materials will post 3.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is 12.62%.

In related news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction on Friday, November 24th. The shares were 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. Corporate insiders own 0.31% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in Applied Materials by 390.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock worth $472,835,000 after purchasing an additional 9,112,328 shares during the last quarter. Swedbank acquired a new position in Applied Materials in the 2nd quarter worth about $135,363,000. Egerton Capital UK LLP increased its position in 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 worth $881,359,000 after purchasing an additional 3,184,994 shares during the last quarter. Capital Research Global Investors increased its position in 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 worth $732,213,000 after purchasing an additional 2,284,836 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Applied Materials by 108.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,690,615 shares of the manufacturing equipment provider’s stock worth $152,459,000 after purchasing an additional 1,922,233 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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