Nomura Raises Applied Materials, Inc. (AMAT) Price Target to $55.00
Applied Materials, Inc. (NASDAQ:AMAT) had its price objective raised by Nomura from $50.00 to $55.00 in a research report sent to investors on Friday morning. Nomura currently has a buy rating on the manufacturing equipment provider’s stock.
AMAT has been the subject of several other reports. Craig Hallum upped their target price on Applied Materials to $60.00 and gave the stock a buy rating in a research report on Friday, August 18th. Credit Suisse Group reiterated a buy rating and set a $62.00 price target on shares of Applied Materials in a report on Tuesday, September 26th. Royal Bank Of Canada reissued a sector perform rating and issued a $48.00 price target (up previously from $46.00) on shares of Applied Materials in a research report on Sunday, August 20th. DA Davidson reissued a buy rating and issued a $55.00 price target on shares of Applied Materials in a research report on Monday, July 10th. Finally, UBS AG restated a buy rating and issued a $52.00 price objective on shares of Applied Materials in a research note on Tuesday, June 13th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $55.31.
Applied Materials (NASDAQ AMAT) opened at 52.08 on Friday. Applied Materials has a 52-week low of $27.56 and a 52-week high of $52.63. The company’s 50-day moving average price is $45.90 and its 200 day moving average price is $43.53. The firm has a market capitalization of $55.54 billion, a price-to-earnings ratio of 18.53 and a beta of 1.86.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $0.50 earnings per share. The business’s revenue was up 32.7% compared to the same quarter last year. Equities research analysts predict that Applied Materials will post $3.20 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 14.18%.
In other Applied Materials 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 is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. MPS Loria Financial Planners LLC bought a new position in shares of Applied Materials in the second quarter valued at approximately $109,000. Wunderlich Capital Managemnt boosted its holdings 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 acquiring an additional 87 shares in the last quarter. Bessemer Group Inc. boosted its holdings 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 acquiring an additional 1,817 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Applied Materials during the 2nd quarter worth approximately $134,000. Finally, IHT Wealth Management LLC grew its position in Applied Materials by 67.8% during the 2nd quarter. IHT Wealth Management LLC now owns 3,344 shares of the manufacturing equipment provider’s stock worth $148,000 after acquiring an additional 1,351 shares during the last quarter. 79.47% of the stock is owned by institutional investors.
Applied Materials Company Profile
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