Applied Materials (NASDAQ:AMAT) had its target price hoisted by Stifel Nicolaus from $72.00 to $80.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have a buy rating on the manufacturing equipment provider’s stock.

Several other research analysts have also weighed in on AMAT. KeyCorp lifted their target price on Applied Materials from $54.00 to $70.00 and gave the stock an overweight rating in a report on Friday, November 15th. Berenberg Bank restated a buy rating and issued a $65.00 price target on shares of Applied Materials in a report on Friday, November 22nd. Needham & Company LLC restated a buy rating and issued a $70.00 price target on shares of Applied Materials in a report on Tuesday, January 21st. ValuEngine lowered Applied Materials from a hold rating to a sell rating in a report on Friday, January 3rd. Finally, Deutsche Bank upgraded Applied Materials from a hold rating to a buy rating and boosted their price target for the company from $60.00 to $72.00 in a report on Sunday, February 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $71.04.

AMAT stock traded down $0.52 during midday trading on Thursday, hitting $66.85. 8,094,968 shares of the company’s stock were exchanged, compared to its average volume of 7,525,363. The stock’s fifty day moving average price is $61.78 and its 200-day moving average price is $55.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.30. The company has a market cap of $57.80 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.64. Applied Materials has a one year low of $36.80 and a one year high of $69.44.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.11 billion. Applied Materials had a return on equity of 35.13% and a net margin of 18.52%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. On average, analysts expect that Applied Materials will post 3.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.84 annualized dividend and a yield of 1.26%. Applied Materials’s payout ratio is presently 27.63%.

In other Applied Materials news, Director Stephen R. Forrest sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $62.86, for a total transaction of $188,580.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $60.73, for a total value of $3,036,500.00. The disclosure for this sale can be found here. Insiders have sold 1,053,000 shares of company stock worth $64,335,080 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Generation Investment Management LLP boosted its stake in shares of Applied Materials by 0.8% in the third quarter. Generation Investment Management LLP now owns 4,600,194 shares of the manufacturing equipment provider’s stock valued at $229,550,000 after buying an additional 35,644 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Applied Materials by 16.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,279,509 shares of the manufacturing equipment provider’s stock valued at $261,221,000 after buying an additional 594,365 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Applied Materials by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,092,517 shares of the manufacturing equipment provider’s stock valued at $249,808,000 after buying an additional 38,389 shares during the period. Prudential Financial Inc. boosted its stake in shares of Applied Materials by 135.0% in the fourth quarter. Prudential Financial Inc. now owns 3,928,533 shares of the manufacturing equipment provider’s stock valued at $239,797,000 after buying an additional 2,256,830 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Applied Materials by 5.9% in the third quarter. Parametric Portfolio Associates LLC now owns 3,844,446 shares of the manufacturing equipment provider’s stock valued at $191,838,000 after buying an additional 213,638 shares during the period. 79.81% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Company Profile

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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