Applied Materials’ (AMAT) Buy Rating Reiterated at Deutsche Bank AG
Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating restated by analysts at Deutsche Bank AG in a research report issued to clients and investors on Friday. They presently have a $33.00 price objective on the manufacturing equipment provider’s stock. Deutsche Bank AG’s target price indicates a potential upside of 7.35% from the company’s previous close.
Other analysts have also issued reports about the stock. Credit Suisse Group AG increased their target price on shares of Applied Materials from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Citigroup Inc. increased their target price on shares of Applied Materials from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Morgan Stanley reiterated a “buy” rating and set a $25.00 target price on shares of Applied Materials in a report on Tuesday, August 16th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $33.00 target price on shares of Applied Materials in a report on Tuesday, October 4th. Finally, RBC Capital Markets reiterated a “sector perform” rating on shares of Applied Materials in a report on Friday, September 23rd. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $31.34.
Shares of Applied Materials (NASDAQ:AMAT) traded up 0.03% on Friday, hitting $30.74. The stock had a trading volume of 23,610,292 shares. Applied Materials has a 1-year low of $15.44 and a 1-year high of $31.25. The firm has a 50 day moving average of $29.00 and a 200-day moving average of $26.51. The firm has a market capitalization of $33.23 billion, a price-to-earnings ratio of 24.24 and a beta of 1.86.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 17th. The manufacturing equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 39.2% compared to the same quarter last year. Equities analysts predict that Applied Materials will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s payout ratio is currently 31.25%.
In other Applied Materials news, VP Omkaram Nalamasu sold 26,035 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $30.15, for a total value of $784,955.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. MCF Advisors LLC raised its stake in shares of Applied Materials by 0.3% in the third quarter. MCF Advisors LLC now owns 3,643 shares of the manufacturing equipment provider’s stock worth $110,000 after buying an additional 12 shares during the last quarter. Point View Wealth Management Inc. increased its position in Applied Materials by 0.3% in the second quarter. Point View Wealth Management Inc. now owns 20,516 shares of the manufacturing equipment provider’s stock valued at $492,000 after buying an additional 54 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Applied Materials by 0.5% in the second quarter. Stephens Inc. AR now owns 12,901 shares of the manufacturing equipment provider’s stock worth $309,000 after buying an additional 65 shares during the period. Stanley Laman Group Ltd. raised its stake in shares of Applied Materials by 1.0% in the third quarter. Stanley Laman Group Ltd. now owns 14,375 shares of the manufacturing equipment provider’s stock worth $433,000 after buying an additional 147 shares during the period. Finally, Advisory Services Network LLC raised its stake in shares of Applied Materials by 3.9% in the third quarter. Advisory Services Network LLC now owns 5,044 shares of the manufacturing equipment provider’s stock worth $152,000 after buying an additional 190 shares during the period. 83.73% of the stock is owned by institutional investors and hedge funds.
Applied Materials Company Profile
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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