Applied Materials Inc. (AMAT) Stock Rating Reaffirmed by Credit Suisse Group AG
Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reissued by research analysts at Credit Suisse Group AG in a research report issued to clients and investors on Wednesday. They currently have a $34.00 price objective on the manufacturing equipment provider’s stock. Credit Suisse Group AG’s price target would indicate a potential upside of 10.64% from the stock’s previous close.
A number of other equities research analysts have also recently commented on AMAT. B. Riley reissued a “buy” rating and set a $39.00 target price on shares of Applied Materials in a research report on Friday, September 16th. S&P Equity Research set a $31.00 target price on shares of Applied Materials and gave the company a “hold” rating in a research report on Sunday, August 21st. Goldman Sachs Group Inc. set a $33.00 target price on shares of Applied Materials and gave the company a “buy” rating in a research report on Friday, August 19th. Nomura reaffirmed a “buy” rating and issued a $31.00 price target on shares of Applied Materials in a report on Thursday, September 22nd. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $28.00 price target (up previously from $26.00) on shares of Applied Materials in a report on Wednesday, August 17th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and a consensus target price of $31.34.
Shares of Applied Materials (NASDAQ:AMAT) opened at 30.73 on Wednesday. The stock’s 50 day moving average is $29.00 and its 200-day moving average is $26.51. The company has a market cap of $33.22 billion, a P/E ratio of 24.24 and a beta of 1.86. Applied Materials has a 12 month low of $15.44 and a 12 month high of $31.07.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The company earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. Applied Materials’s revenue for the quarter was up 39.2% compared to the same quarter last year. On average, equities analysts forecast that Applied Materials will post $1.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is currently 31.25%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary E. Dickerson sold 229,935 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $29.71, for a total transaction of $6,831,368.85. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Scout Investments Inc. acquired a new position in Applied Materials during the third quarter valued at $10,695,000. Quantitative Systematic Strategies LLC increased its position in shares of Applied Materials by 47.8% in the third quarter. Quantitative Systematic Strategies LLC now owns 50,743 shares of the manufacturing equipment provider’s stock worth $1,503,000 after buying an additional 16,400 shares during the period. LPL Financial LLC increased its position in shares of Applied Materials by 40.6% in the third quarter. LPL Financial LLC now owns 71,654 shares of the manufacturing equipment provider’s stock worth $2,122,000 after buying an additional 20,688 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in shares of Applied Materials by 50.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 1,152,266 shares of the manufacturing equipment provider’s stock worth $34,739,000 after buying an additional 383,843 shares during the period. Finally, Cookson Peirce & Co. Inc. purchased a new position in shares of Applied Materials during the third quarter worth approximately $3,456,000. 83.73% of the stock is currently owned by hedge funds and other institutional investors.
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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