Applied Materials’ (AMAT) “Buy” Rating Reiterated at Susquehanna Bancshares
Susquehanna Bancshares reiterated their buy rating on shares of Applied Materials (NASDAQ:AMAT) in a report issued on Friday, Briefing.com Automated Import reports. They currently have a $80.00 target price on the manufacturing equipment provider’s stock, up from their prior target price of $70.00.
A number of other equities research analysts have also recently weighed in on the stock. ValuEngine cut shares of Applied Materials from a buy rating to a hold rating in a research report on Tuesday, August 6th. Stifel Nicolaus boosted their price target on shares of Applied Materials from $57.00 to $67.00 and gave the company a buy rating in a research report on Tuesday, November 12th. Morgan Stanley boosted their price target on shares of Applied Materials from $40.00 to $43.00 and gave the company an equal weight rating in a research report on Friday, August 16th. Royal Bank of Canada boosted their price target on shares of Applied Materials from $63.00 to $67.00 and gave the company an outperform rating in a research report on Friday. Finally, Deutsche Bank boosted their price target on shares of Applied Materials from $47.00 to $52.00 and gave the company a hold rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Applied Materials has a consensus rating of Buy and a consensus target price of $62.91.
AMAT traded down $0.61 on Friday, reaching $61.74. The company had a trading volume of 310,867 shares, compared to its average volume of 7,565,617. Applied Materials has a 1 year low of $28.79 and a 1 year high of $63.07. The stock has a market capitalization of $57.33 billion, a PE ratio of 20.32, a P/E/G ratio of 3.74 and a beta of 1.66. The company has a quick ratio of 1.51, a current ratio of 2.30 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $53.95 and a 200-day moving average price of $47.59.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.36%. Applied Materials’s dividend payout ratio (DPR) is 27.63%.
In other news, Director Stephen R. Forrest sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total transaction of $138,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Steve G. Ghanayem sold 25,727 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total transaction of $1,340,891.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,945 shares of company stock worth $2,776,105. Company insiders own 0.44% of the company’s stock.
Several institutional investors have recently modified their holdings of AMAT. Northwest Investment Counselors LLC acquired a new position in shares of Applied Materials during the third quarter worth about $29,000. Sandy Spring Bank grew its position in Applied Materials by 57.4% during the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after buying an additional 287 shares during the period. Next Capital Management LLC acquired a new position in Applied Materials during the second quarter worth about $35,000. Coastal Capital Group Inc. acquired a new position in Applied Materials during the second quarter worth about $36,000. Finally, Horan Capital Advisors LLC. acquired a new position in Applied Materials during the third quarter worth about $39,000. Institutional investors and hedge funds own 77.70% of the company’s stock.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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