Applied Materials, Inc. (AMAT) Lifted to “Outperform” at Royal Bank Of Canada
Royal Bank Of Canada upgraded shares of Applied Materials, Inc. (NASDAQ:AMAT) from a sector perform rating to an outperform rating in a research report report published on Sunday morning, MarketBeat Ratings reports. They currently have $55.00 target price on the manufacturing equipment provider’s stock, up from their previous target price of $48.00.
AMAT has been the topic of a number of other research reports. Zacks Investment Research downgraded Applied Materials from a buy rating to a hold rating in a research note on Monday, August 14th. Bank of America Corporation restated a buy rating and set a $65.00 price target (up previously from $58.00) on shares of Applied Materials in a research note on Sunday, June 11th. Morgan Stanley restated an overweight rating and set a $52.00 price target on shares of Applied Materials in a research note on Monday, August 14th. B. Riley restated a buy rating and set a $61.00 price target on shares of Applied Materials in a research note on Saturday, August 19th. Finally, Vetr upgraded Applied Materials from a buy rating to a strong-buy rating and set a $46.48 price target on the stock in a research note on Thursday, June 29th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $51.86.
Shares of Applied Materials (AMAT) opened at 48.26 on Friday. The firm has a market cap of $51.47 billion, a P/E ratio of 17.16 and a beta of 1.81. The company’s 50 day moving average price is $44.50 and its 200-day moving average price is $42.82. Applied Materials has a 12-month low of $27.56 and a 12-month high of $48.53.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. On average, equities research analysts anticipate that Applied Materials will post $3.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 0.83%. Applied Materials’s dividend payout ratio is presently 14.18%.
In related news, Director Alexander Karsner sold 22,762 shares of Applied Materials 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its position in Applied Materials by 2.7% during the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock worth $3,632,000 after buying an additional 2,279 shares in the last quarter. Oxford Asset Management purchased a new position in Applied Materials during the first quarter worth $4,956,000. Karp Capital Management Corp purchased a new position in Applied Materials during the first quarter worth $17,549,000. OMERS ADMINISTRATION Corp purchased a new position in Applied Materials during the second quarter worth $2,082,000. Finally, Outfitter Advisors LTD. increased its position in Applied Materials by 1.5% during the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after buying an additional 600 shares in the last quarter. 79.47% of the stock is owned by institutional investors.
About Applied Materials
Receive News & Stock Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related stocks with our FREE daily email newsletter.