Applied Materials (NASDAQ:AMAT) had its target price boosted by Cfra from $60.00 to $68.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Cfra currently has a hold rating on the manufacturing equipment provider’s stock.
Several other equities research analysts have also recently issued reports on AMAT. Needham & Company LLC lifted their price objective on shares of Applied Materials from $70.00 to $73.00 and gave the company a buy rating in a research report on Thursday. Bank of America upgraded shares of Applied Materials from a neutral rating to a buy rating in a research report on Friday, January 10th. BidaskClub upgraded shares of Applied Materials from a hold rating to a buy rating in a research report on Friday, February 7th. ICAP upgraded shares of Applied Materials from a neutral rating to a buy rating in a research report on Friday, January 10th. Finally, ValuEngine cut shares of Applied Materials from a hold rating to a sell rating in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $71.04.
Shares of Applied Materials stock traded down $0.52 on Thursday, hitting $66.85. 8,094,968 shares of the company traded hands, compared to its average volume of 7,525,363. The stock has a market capitalization of $57.80 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.30. Applied Materials has a 52 week low of $36.80 and a 52 week high of $69.44. The business has a 50-day simple moving average of $61.78 and a 200 day simple moving average of $55.12.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Research analysts expect that Applied Materials will post 3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 19th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, February 18th. Applied Materials’s dividend payout ratio (DPR) is presently 27.63%.
In related news, Director Stephen R. Forrest sold 3,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.86, for a total value of $188,580.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary E. Dickerson sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $61.11, for a total transaction of $61,110,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,053,000 shares of company stock valued at $64,335,080. 0.41% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caxton Associates LP purchased a new stake in shares of Applied Materials during the fourth quarter valued at $935,000. Point72 Asset Management L.P. boosted its stake in shares of Applied Materials by 96.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,431,075 shares of the manufacturing equipment provider’s stock valued at $148,393,000 after purchasing an additional 1,195,482 shares during the period. Captrust Financial Advisors boosted its stake in shares of Applied Materials by 337.6% during the fourth quarter. Captrust Financial Advisors now owns 28,407 shares of the manufacturing equipment provider’s stock valued at $1,767,000 after purchasing an additional 21,916 shares during the period. Bluefin Trading LLC purchased a new stake in shares of Applied Materials during the fourth quarter valued at $2,171,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Applied Materials by 61.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 175,372 shares of the manufacturing equipment provider’s stock valued at $10,705,000 after purchasing an additional 66,727 shares during the period. 79.81% of the stock is owned by institutional investors.
Applied Materials Company Profile
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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