Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a research note issued to investors on Friday. They currently have a $32.50 price target on the manufacturing equipment provider’s stock. Cowen and Company’s price target points to a potential upside of 3.67% from the stock’s current price.

A number of other brokerages also recently weighed in on AMAT. B. Riley reiterated a “buy” rating and issued a $38.00 price objective on shares of Applied Materials in a research report on Friday. Deutsche Bank AG reiterated a “buy” rating and issued a $33.00 price objective on shares of Applied Materials in a research report on Friday. Berenberg Bank upped their price objective on shares of Applied Materials from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Pacific Crest reiterated a “buy” rating on shares of Applied Materials in a research report on Thursday, September 22nd. Finally, Nomura reiterated a “buy” rating and issued a $31.00 price objective on shares of Applied Materials in a research report on Thursday, September 22nd. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.50.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Applied Materials (NASDAQ:AMAT) opened at 31.35 on Friday. The company has a market cap of $33.89 billion, a P/E ratio of 20.36 and a beta of 1.86. The company has a 50 day moving average of $29.07 and a 200-day moving average of $26.77. Applied Materials has a one year low of $15.44 and a one year high of $31.45.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company earned $3.30 billion during the quarter, compared to the consensus estimate of $3.31 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. The firm’s quarterly revenue was up 39.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. On average, equities analysts expect that Applied Materials will post $2.28 earnings per share for the current fiscal 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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is presently 25.64%.

In other Applied Materials news, VP Omkaram Nalamasu sold 26,035 shares of the stock in a transaction that occurred on 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 SEC, which is available through this link. Also, insider Gary E. Dickerson sold 229,935 shares of the stock in a transaction that occurred on Friday, October 7th. The shares were 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 company insiders.

Large investors have recently made changes to their positions in the stock. Huntington National Bank increased its position in Applied Materials by 303.8% in the second quarter. Huntington National Bank now owns 429,025 shares of the manufacturing equipment provider’s stock worth $10,284,000 after buying an additional 322,784 shares during the period. Raymond James Trust N.A. increased its position in Applied Materials by 2.0% in the third quarter. Raymond James Trust N.A. now owns 168,652 shares of the manufacturing equipment provider’s stock worth $5,084,000 after buying an additional 3,281 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Applied Materials by 602.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 421,389 shares of the manufacturing equipment provider’s stock worth $10,100,000 after buying an additional 361,392 shares during the period. Columbus Circle Investors increased its position in Applied Materials by 8.7% in the second quarter. Columbus Circle Investors now owns 883,295 shares of the manufacturing equipment provider’s stock worth $21,173,000 after buying an additional 70,472 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Applied Materials by 46.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 446,035 shares of the manufacturing equipment provider’s stock worth $10,691,000 after buying an additional 141,814 shares during the period. 81.44% 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.

5 Day Chart for NASDAQ:AMAT

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