Applied Materials, Inc. (NASDAQ:AMAT) had its price objective upped by Citigroup Inc. from $60.00 to $70.00 in a research note published on Monday morning. They currently have a buy rating on the manufacturing equipment provider’s stock.
Several other research analysts have also recently issued reports on the stock. Vetr raised shares of Applied Materials from a hold rating to a buy rating and set a $60.07 target price for the company in a report on Monday. J P Morgan Chase & Co raised their target price on shares of Applied Materials to $70.00 and gave the stock an overweight rating in a report on Friday. Deutsche Bank AG raised their target price on shares of Applied Materials from $58.00 to $65.00 and gave the stock a buy rating in a report on Friday. Needham & Company LLC raised their target price on shares of Applied Materials to $66.00 and gave the stock a positive rating in a report on Friday. Finally, Credit Suisse Group raised their target price on shares of Applied Materials from $62.00 to $72.00 and gave the stock an outperform rating in a report on Friday. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $60.35.
Shares of Applied Materials (NASDAQ AMAT) opened at $57.62 on Monday. Applied Materials has a one year low of $29.85 and a one year high of $60.89. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57. The company has a market cap of $61,450.00, a price-to-earnings ratio of 17.38, a PEG ratio of 0.87 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. 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 firm posted $0.66 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. research analysts predict that Applied Materials will post 3.86 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. Applied Materials’s payout ratio is presently 12.62%.
In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value 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 Alexander Karsner sold 22,762 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
A number of large investors have recently bought and sold shares of AMAT. Janus Henderson Group PLC boosted its holdings 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 valued at $472,835,000 after purchasing an additional 9,112,328 shares during the last quarter. Swedbank acquired a new position in shares of Applied Materials in the 2nd quarter worth approximately $135,363,000. Egerton Capital UK LLP lifted its holdings in shares of 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 acquiring an additional 3,184,994 shares during the last quarter. Capital Research Global Investors increased its stake in Applied Materials by 14.8% during 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 buying an additional 2,284,836 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Applied Materials by 108.7% during 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 buying an additional 1,922,233 shares during the period. Institutional investors own 78.79% of the company’s stock.
Applied Materials Company Profile
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