Morgan Stanley Increases Applied Materials (NASDAQ:AMAT) Price Target to $169.00

Applied Materials (NASDAQ:AMAT) had its price objective raised by Morgan Stanley from $158.00 to $169.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the manufacturing equipment provider’s stock.

Several other brokerages also recently issued reports on AMAT. Stifel Nicolaus lowered their price target on Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Mizuho dropped their price target on Applied Materials from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Jefferies Financial Group upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a report on Friday, March 28th. Barclays lowered their price objective on shares of Applied Materials from $190.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America cut their target price on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.76.

Applied Materials Stock Up 0.4%

AMAT opened at $190.86 on Tuesday. The firm has a market cap of $153.17 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The business has a 50 day moving average price of $166.69 and a 200 day moving average price of $163.80. Applied Materials has a twelve month low of $123.74 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the previous year, the company earned $2.09 earnings per share. Applied Materials’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts forecast that Applied Materials will post 9.38 EPS for the current year.

Applied Materials announced that its board has authorized a share repurchase plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio is 22.38%.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the transaction, the chief accounting officer owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Applied Materials

Large investors have recently bought and sold shares of the stock. Runnymede Capital Advisors Inc. lifted its holdings in shares of Applied Materials by 972.2% during the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock valued at $28,000 after acquiring an additional 175 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Applied Materials during the 1st quarter worth about $29,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Applied Materials by 435.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider’s stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Activest Wealth Management lifted its holdings in Applied Materials by 5,325.0% during the 1st quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider’s stock valued at $31,000 after purchasing an additional 213 shares during the last quarter. Finally, Disciplina Capital Management LLC boosted its position in Applied Materials by 91.5% in the first quarter. Disciplina Capital Management LLC now owns 272 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 130 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.