Applied Materials’ (AMAT) Overweight Rating Reaffirmed at Morgan Stanley
A number of other brokerages have also recently commented on AMAT. Vetr raised Applied Materials from a hold rating to a buy rating and set a $48.70 price target on the stock in a research note on Monday, July 24th. B. Riley reaffirmed a buy rating and issued a $56.00 price target on shares of Applied Materials in a research note on Sunday, July 16th. Cowen and Company reaffirmed a buy rating and issued a $50.00 price target on shares of Applied Materials in a research note on Friday, July 28th. Goldman Sachs Group, Inc. (The) raised Applied Materials from a neutral rating to a buy rating and lifted their price target for the stock from $49.00 to $52.00 in a research note on Wednesday, September 13th. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $54.00 price target (up from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $51.55.
Shares of Applied Materials (NASDAQ AMAT) opened at 47.14 on Thursday. The firm’s 50-day moving average is $44.31 and its 200-day moving average is $42.57. The firm has a market cap of $50.27 billion, a P/E ratio of 16.76 and a beta of 1.81. Applied Materials has a 52-week low of $27.56 and a 52-week high of $47.86.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Analysts anticipate that Applied Materials will post $3.20 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 14.18%.
In other news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.
Several large investors have recently made changes to their positions in AMAT. BlackRock Inc. lifted its holdings in shares of Applied Materials by 2,063.7% during the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after purchasing an additional 63,912,660 shares in the last quarter. Egerton Capital UK LLP bought a new position in shares of Applied Materials during the first quarter valued at $452,897,000. Janus Henderson Group PLC lifted its holdings in shares of Applied Materials by 390.4% during the second quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock valued at $472,835,000 after purchasing an additional 9,112,328 shares in the last quarter. FMR LLC lifted its holdings in shares of Applied Materials by 16.8% during the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after purchasing an additional 4,604,275 shares in the last quarter. Finally, Swedbank bought a new position in shares of Applied Materials during the second quarter valued at $135,363,000. 79.47% of the stock is currently owned by hedge funds and other institutional investors.
Applied Materials Company Profile
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