Barclays Raises Applied Materials (NASDAQ:AMAT) Price Target to $165.00

Applied Materials (NASDAQ:AMAT) had its target price boosted by Barclays from $150.00 to $165.00 in a research report sent to investors on Wednesday morning, PriceTargets.com reports. The brokerage currently has an equal weight rating on the manufacturing equipment provider’s stock.

A number of other research firms also recently weighed in on AMAT. Deutsche Bank Aktiengesellschaft upped their target price on shares of Applied Materials from $170.00 to $180.00 and gave the stock a buy rating in a research report on Wednesday, December 15th. Susquehanna Bancshares cut shares of Applied Materials from a positive rating to a neutral rating and dropped their price target for the stock from $170.00 to $160.00 in a research note on Tuesday, September 14th. Stifel Nicolaus upped their price target on shares of Applied Materials from $180.00 to $189.00 and gave the stock a buy rating in a research note on Friday, November 19th. DA Davidson upped their price target on shares of Applied Materials from $165.00 to $175.00 and gave the stock a buy rating in a research note on Friday, November 19th. Finally, Piper Sandler started coverage on shares of Applied Materials in a research note on Thursday, October 14th. They issued a neutral rating and a $130.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of Buy and a consensus price target of $166.00.

NASDAQ:AMAT opened at $167.00 on Wednesday. The firm’s 50-day moving average price is $153.22 and its 200-day moving average price is $141.59. The company has a market capitalization of $148.38 billion, a PE ratio of 26.05, a P/E/G ratio of 1.67 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.54 and a quick ratio of 1.86. Applied Materials has a 1-year low of $96.07 and a 1-year high of $167.06.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.95 by ($0.01). The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. Equities analysts anticipate that Applied Materials will post 8.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 16th. Stockholders of record on Wednesday, February 23rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, February 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 14.98%.

In other news, CEO Gary E. Dickerson sold 300,000 shares of the stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $152.79, for a total value of $45,837,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Claro Advisors LLC increased its holdings in Applied Materials by 4.1% in the 3rd quarter. Claro Advisors LLC now owns 1,662 shares of the manufacturing equipment provider’s stock worth $214,000 after acquiring an additional 66 shares in the last quarter. Capital Planning Advisors LLC increased its holdings in Applied Materials by 4.3% in the 3rd quarter. Capital Planning Advisors LLC now owns 1,630 shares of the manufacturing equipment provider’s stock worth $210,000 after acquiring an additional 67 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Applied Materials by 10.1% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 742 shares of the manufacturing equipment provider’s stock worth $117,000 after acquiring an additional 68 shares in the last quarter. Cranbrook Wealth Management LLC increased its holdings in Applied Materials by 2.2% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 3,261 shares of the manufacturing equipment provider’s stock worth $420,000 after acquiring an additional 70 shares in the last quarter. Finally, Warren Averett Asset Management LLC increased its holdings in Applied Materials by 1.7% in the 3rd quarter. Warren Averett Asset Management LLC now owns 4,257 shares of the manufacturing equipment provider’s stock worth $655,000 after acquiring an additional 70 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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