Applied Materials (NASDAQ:AMAT) Trading 3.8% Higher Following Analyst Upgrade

Applied Materials, Inc. (NASDAQ:AMAT)’s share price traded up 3.8% during trading on Friday after Mizuho raised their price target on the stock from $161.00 to $178.00. The company traded as high as $163.66 and last traded at $163.13. 361,720 shares changed hands during trading, a decline of 94% from the average session volume of 5,985,298 shares. The stock had previously closed at $157.18.

Several other brokerages also recently issued reports on AMAT. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating and set a $155.00 price target for the company. in a report on Tuesday, November 23rd. Bank of America raised their target price on shares of Applied Materials from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 10th. Wells Fargo & Company raised their target price on shares of Applied Materials from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Barclays raised their target price on shares of Applied Materials from $150.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Applied Materials from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, December 15th. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $166.00.

In other Applied Materials news, CEO Gary E. Dickerson sold 300,000 shares of Applied Materials stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $152.79, for a total transaction of $45,837,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Elmwood Wealth Management Inc. bought a new stake in shares of Applied Materials in the second quarter valued at about $28,000. FinTrust Capital Advisors LLC raised its stake in Applied Materials by 70.9% in the second quarter. FinTrust Capital Advisors LLC now owns 229 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 95 shares in the last quarter. D Orazio & Associates Inc. acquired a new position in Applied Materials in the third quarter valued at about $30,000. MV Capital Management Inc. raised its stake in Applied Materials by 76.1% in the third quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock valued at $30,000 after purchasing an additional 102 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in Applied Materials by 42.4% in the third quarter. Rosenberg Matthew Hamilton now owns 282 shares of the manufacturing equipment provider’s stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

The firm has a market cap of $148.38 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.67 and a beta of 1.38. The stock has a 50 day moving average of $153.22 and a 200 day moving average of $141.59. The company has a quick ratio of 1.86, a current ratio of 2.54 and a debt-to-equity ratio of 0.45.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 18th. The manufacturing equipment provider reported $1.94 EPS for the quarter, missing the Zacks’ consensus estimate of $1.95 by ($0.01). The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.34 billion. Applied Materials had a net margin of 25.53% and a return on equity of 52.64%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. As a group, analysts predict that Applied Materials, Inc. will post 8.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 16th. Stockholders of record on Wednesday, February 23rd will be paid a $0.24 dividend. The ex-dividend date is Tuesday, February 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. Applied Materials’s payout ratio is currently 14.98%.

Applied Materials Company Profile (NASDAQ:AMAT)

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

Further Reading: What are different types of coverage ratios?

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.