Applied Materials’ (AMAT) Buy Rating Reiterated at Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a report issued on Monday. They currently have a $40.00 price objective on the manufacturing equipment provider’s stock.
A number of other research firms have also recently weighed in on AMAT. Stifel Nicolaus restated a buy rating on shares of Applied Materials in a research note on Friday, January 6th. B. Riley restated a buy rating and issued a $38.00 price target on shares of Applied Materials in a research note on Monday. Goldman Sachs Group, Inc. (The) cut Applied Materials from a buy rating to a neutral rating and set a $35.00 price target on the stock. in a research note on Monday, December 19th. Vetr upgraded Applied Materials from a buy rating to a strong-buy rating and set a $35.62 price target on the stock in a research note on Wednesday, December 7th. Finally, Summit Redstone restated a buy rating on shares of Applied Materials in a research note on Saturday, January 21st. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $34.15.
Applied Materials (NASDAQ:AMAT) opened at 35.18 on Monday. Applied Materials has a 12-month low of $18.09 and a 12-month high of $35.85. The company has a 50 day moving average price of $34.05 and a 200-day moving average price of $30.79. The company has a market capitalization of $37.87 billion, a PE ratio of 22.84 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, February 15th. The manufacturing equipment provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the prior year, the business earned $0.26 EPS. On average, analysts anticipate that Applied Materials will post $2.46 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 22nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, February 17th. Applied Materials’s dividend payout ratio (DPR) is presently 25.64%.
In related news, Director Dennis D. Powell sold 21,017 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $31.95, for a total value of $671,493.15. Following the sale, the director now directly owns 98,207 shares of the company’s stock, valued at $3,137,713.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas F. Larkins sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $31.94, for a total value of $3,194,000.00. Following the completion of the sale, the vice president now directly owns 482,782 shares in the company, valued at $15,420,057.08. The disclosure for this sale can be found here. Insiders sold 125,817 shares of company stock worth $4,018,421 over the last ninety days. 0.31% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance acquired a new stake in Applied Materials during the fourth quarter valued at $105,000. First Interstate Bank raised its stake in Applied Materials by 2.9% in the fourth quarter. First Interstate Bank now owns 3,296 shares of the manufacturing equipment provider’s stock valued at $106,000 after buying an additional 93 shares during the period. First Quadrant L P CA acquired a new stake in Applied Materials during the third quarter valued at $103,000. MCF Advisors LLC raised its stake in Applied Materials by 0.3% in the third quarter. MCF Advisors LLC now owns 3,643 shares of the manufacturing equipment provider’s stock valued at $110,000 after buying an additional 12 shares during the period. Finally, Parallel Advisors LLC acquired a new stake in Applied Materials during the fourth quarter valued at $123,000. 82.52% of the stock is currently owned by institutional investors and hedge funds.
Applied Materials Company Profile
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