Applied Materials (NASDAQ:AMAT – Free Report) had its price objective boosted by TD Cowen from $160.00 to $165.00 in a report published on Friday morning, MarketBeat reports. The firm currently has an outperform rating on the manufacturing equipment provider’s stock.
AMAT has been the topic of several other reports. Berenberg Bank increased their price objective on Applied Materials from $150.00 to $175.00 and gave the company a buy rating in a research note on Friday, August 18th. Stifel Nicolaus raised their price objective on Applied Materials from $150.00 to $175.00 and gave the stock a buy rating in a report on Friday, August 18th. Wolfe Research started coverage on Applied Materials in a report on Thursday, September 14th. They set an outperform rating and a $185.00 price objective on the stock. StockNews.com raised Applied Materials from a hold rating to a buy rating in a report on Saturday, October 21st. Finally, Evercore ISI lowered their price objective on Applied Materials from $175.00 to $160.00 in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $161.29.
Read Our Latest Stock Report on Applied Materials
Applied Materials Price Performance
AMAT stock opened at $152.57 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 1.59. The business has a 50 day simple moving average of $140.25 and a 200-day simple moving average of $139.60. The firm has a market capitalization of $128.09 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 3.80 and a beta of 1.59. Applied Materials has a 1 year low of $93.68 and a 1 year high of $157.76.
Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.14. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.52 billion. Applied Materials had a return on equity of 49.29% and a net margin of 24.27%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. Equities research analysts anticipate that Applied Materials will post 7.9 earnings per share for the current fiscal year.
Applied Materials Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.84%. Applied Materials’s dividend payout ratio is currently 16.89%.
Insiders Place Their Bets
In other news, CFO Brice Hill sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $150.04, for a total value of $150,040.00. Following the sale, the chief financial officer now owns 106,023 shares in the company, valued at approximately $15,907,690.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Applied Materials
Several institutional investors and hedge funds have recently bought and sold shares of the business. Impact Partnership Wealth LLC grew its position in Applied Materials by 2.6% in the 3rd quarter. Impact Partnership Wealth LLC now owns 2,900 shares of the manufacturing equipment provider’s stock worth $402,000 after purchasing an additional 73 shares during the last quarter. Redwood Financial Network Corp grew its stake in Applied Materials by 4.6% in the 3rd quarter. Redwood Financial Network Corp now owns 1,721 shares of the manufacturing equipment provider’s stock valued at $238,000 after buying an additional 75 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in Applied Materials by 1.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 4,343 shares of the manufacturing equipment provider’s stock worth $601,000 after purchasing an additional 76 shares during the last quarter. Signaturefd LLC grew its position in Applied Materials by 0.5% in the 2nd quarter. Signaturefd LLC now owns 14,154 shares of the manufacturing equipment provider’s stock worth $2,046,000 after purchasing an additional 77 shares during the last quarter. Finally, Glenview Trust co lifted its holdings in shares of Applied Materials by 0.3% during the 3rd quarter. Glenview Trust co now owns 28,027 shares of the manufacturing equipment provider’s stock worth $3,880,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc engages in the provision of 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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