Craig Hallum Reaffirms Buy Rating for Applied Materials, Inc. (AMAT)
Craig Hallum restated their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a research report sent to investors on Thursday. They currently have a $76.00 price target on the manufacturing equipment provider’s stock, up from their prior price target of $60.00.
Several other analysts have also commented on the stock. Bank of America Corporation reaffirmed a buy rating and issued a $65.00 price objective (up previously from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. UBS AG reissued a buy rating and set a $52.00 target price on shares of Applied Materials in a research report on Tuesday, June 13th. Vetr upgraded shares of Applied Materials from a hold rating to a buy rating and set a $45.72 price target for the company in a research note on Thursday, June 22nd. Stifel Nicolaus restated a buy rating and set a $55.00 price target on shares of Applied Materials in a research note on Thursday, July 6th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $52.00 price target (up previously from $47.00) on shares of Applied Materials in a report on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $55.31.
Shares of Applied Materials (NASDAQ AMAT) opened at 52.09 on Thursday. Applied Materials has a 1-year low of $27.56 and a 1-year high of $52.28. The company has a market cap of $55.55 billion, a PE ratio of 18.52 and a beta of 1.86. The company has a 50-day moving average price of $44.50 and a 200-day moving average price of $42.82.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ 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 revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Equities research analysts expect that Applied Materials will post $3.20 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s payout ratio is 14.18%.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.
Several institutional investors have recently bought and sold shares of AMAT. MPS Loria Financial Planners LLC bought a new stake in shares of Applied Materials in the second quarter worth about $109,000. Wunderlich Capital Managemnt grew its position in shares of Applied Materials by 2.9% in the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Applied Materials by 145.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after buying an additional 1,817 shares during the last quarter. Hanson McClain Inc. grew its position in shares of Applied Materials by 4.3% in the 1st quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after buying an additional 139 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Applied Materials during the second quarter valued at approximately $134,000. Institutional investors own 79.47% of the company’s stock.
About Applied Materials
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