Applied Materials (NASDAQ:AMAT) Research Coverage Started at Evercore ISI

Evercore ISI began coverage on shares of Applied Materials (NASDAQ:AMAT) in a research note published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $260.00 price objective on the manufacturing equipment provider’s stock.

Other equities research analysts also recently issued reports about the company. Morgan Stanley lifted their price objective on Applied Materials from $142.00 to $190.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Barclays lifted their price objective on Applied Materials from $120.00 to $140.00 and gave the stock an underweight rating in a report on Tuesday, January 16th. TD Cowen boosted their price target on Applied Materials from $185.00 to $245.00 and gave the company an outperform rating in a report on Friday, February 16th. B. Riley boosted their price target on Applied Materials from $175.00 to $220.00 and gave the company a buy rating in a report on Monday, February 12th. Finally, Cantor Fitzgerald upgraded Applied Materials from a neutral rating to an overweight rating and boosted their price target for the company from $220.00 to $260.00 in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $201.50.

Applied Materials Stock Performance

NASDAQ AMAT opened at $194.32 on Tuesday. The firm has a market capitalization of $161.46 billion, a P/E ratio of 22.86, a P/E/G ratio of 3.13 and a beta of 1.59. Applied Materials has a 1-year low of $109.12 and a 1-year high of $214.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.71 and a quick ratio of 1.91. The business’s 50-day simple moving average is $202.53 and its 200-day simple moving average is $169.24.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.23. The business had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.48 billion. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. Equities analysts predict that Applied Materials will post 8.04 EPS for the current year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s payout ratio is currently 15.06%.

Institutional Trading of Applied Materials

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Freedom LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth $25,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth $27,000. Global Wealth Management Investment Advisory Inc. raised its position in shares of Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. DSM Capital Partners LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth $37,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Applied Materials during the third quarter worth $39,000. Institutional investors own 80.56% of the company’s stock.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.