Applied Materials (NASDAQ:AMAT) had its price target hoisted by Deutsche Bank from $47.00 to $52.00 in a research report report published on Thursday, BenzingaRatingsTable reports. Deutsche Bank currently has a hold rating on the manufacturing equipment provider’s stock.
AMAT has been the subject of several other research reports. ValuEngine downgraded Applied Materials from a buy rating to a hold rating in a research note on Tuesday, August 6th. Goldman Sachs Group downgraded Applied Materials from a buy rating to a neutral rating in a research note on Monday, July 22nd. B. Riley set a $54.00 price target on Applied Materials and gave the stock a buy rating in a research note on Friday, August 16th. Needham & Company LLC lifted their price target on Applied Materials from $52.00 to $56.00 and gave the stock a buy rating in a research note on Friday, September 13th. Finally, BidaskClub raised Applied Materials from a buy rating to a strong-buy rating in a research note on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials has an average rating of Buy and an average price target of $52.10.
Applied Materials stock traded up $0.19 during midday trading on Thursday, reaching $51.94. The company’s stock had a trading volume of 3,088,721 shares, compared to its average volume of 9,435,934. Applied Materials has a fifty-two week low of $28.79 and a fifty-two week high of $52.62. 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’s 50 day simple moving average is $49.66 and its 200 day simple moving average is $45.24. The firm has a market capitalization of $47.12 billion, a PE ratio of 11.67, a P/E/G ratio of 3.40 and a beta of 1.65.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company earned $1.20 earnings per share. Applied Materials’s quarterly revenue was down 14.4% compared to the same quarter last year. Equities analysts predict that Applied Materials will post 3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Wednesday, November 20th. Applied Materials’s dividend payout ratio is presently 18.88%.
In related news, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total transaction of $1,340,891.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis D. Powell sold 25,218 shares of Applied Materials stock in a transaction dated Thursday, September 5th. The stock was 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 quarter, insiders have sold 53,945 shares of company stock valued at $2,776,105. 0.44% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Greenleaf Trust grew its holdings in Applied Materials by 8.5% in the 2nd quarter. Greenleaf Trust now owns 15,309 shares of the manufacturing equipment provider’s stock valued at $688,000 after buying an additional 1,201 shares during the period. Coastal Investment Advisors Inc. grew its holdings in Applied Materials by 82.9% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,304 shares of the manufacturing equipment provider’s stock valued at $103,000 after buying an additional 1,044 shares during the period. Hartford Financial Management Inc. grew its holdings in 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 buying an additional 248 shares during the period. Nvwm LLC grew its holdings in Applied Materials by 28.0% in the 2nd quarter. Nvwm LLC now owns 17,597 shares of the manufacturing equipment provider’s stock valued at $790,000 after buying an additional 3,844 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Applied Materials in the 2nd quarter valued at about $19,389,000. Hedge funds and other institutional investors own 78.88% of the company’s stock.
About Applied Materials
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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