Applied Materials Inc. (AMAT) Rating Reiterated by Goldman Sachs Group Inc.
Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating restated by equities researchers at Goldman Sachs Group Inc. in a research note issued to investors on Tuesday. They currently have a $33.00 target price on the manufacturing equipment provider’s stock. Goldman Sachs Group Inc.’s price objective would suggest a potential upside of 10.29% from the stock’s previous close.
AMAT has been the subject of a number of other research reports. Nomura reaffirmed a “buy” rating and set a $31.00 price objective on shares of Applied Materials in a research report on Thursday, September 22nd. Royal Bank Of Canada raised their price target on shares of Applied Materials from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 19th. Cowen and Company raised their price target on shares of Applied Materials from $26.00 to $32.50 and gave the company an “outperform” rating in a research report on Friday, August 19th. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price target on shares of Applied Materials in a research report on Friday, September 16th. Finally, RBC Capital Markets reissued a “sector perform” rating on shares of Applied Materials in a research report on Friday, September 23rd. Six analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $30.72.
Shares of Applied Materials (NASDAQ:AMAT) opened at 29.92 on Tuesday. The company has a 50 day moving average price of $29.56 and a 200-day moving average price of $24.73. The stock has a market cap of $32.34 billion, a price-to-earnings ratio of 23.60 and a beta of 1.84. Applied Materials has a one year low of $14.92 and a one year high of $31.07.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The firm earned $2.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. Equities analysts predict that Applied Materials will post $1.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.
In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Omkaram Nalamasu sold 26,035 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $30.15, for a total transaction of $784,955.25. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. A.R. Schmeidler & Co. Inc. purchased a new position in Applied Materials during the first quarter worth $5,698,000. Menta Capital LLC purchased a new position in Applied Materials during the first quarter worth $434,000. C M Bidwell & Associates Ltd. purchased a new position in Applied Materials during the first quarter worth $7,960,000. Blue Rock Advisors LLC purchased a new position in Applied Materials during the first quarter worth $235,000. Finally, Advisor Partners LLC raised its position in Applied Materials by 0.3% in the first quarter. Advisor Partners LLC now owns 12,995 shares of the manufacturing equipment provider’s stock worth $275,000 after buying an additional 41 shares in the last quarter. 82.20% of the stock is currently owned by institutional investors.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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