Bank of America Corporation Analysts Give Applied Materials, Inc. (AMAT) a $40.00 Price Target
Bank of America Corporation set a $40.00 target price on Applied Materials, Inc. (NASDAQ:AMAT) in a report issued on Tuesday morning. The firm currently has a buy rating on the manufacturing equipment provider’s stock.
A number of other equities analysts also recently commented on AMAT. Needham & Company LLC reissued a buy rating and issued a $34.00 price objective on shares of Applied Materials in a research note on Tuesday, October 25th. Zacks Investment Research lowered shares of Applied Materials from a buy rating to a hold rating in a report on Wednesday, November 2nd. Credit Suisse Group reissued a buy rating and set a $34.00 price objective on shares of Applied Materials in a report on Wednesday, November 16th. B. Riley reissued a buy rating and set a $38.00 price objective on shares of Applied Materials in a report on Friday, November 18th. Finally, Deutsche Bank AG reissued a buy rating and set a $33.00 price objective on shares of Applied Materials in a report on Friday, November 18th. Seven 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 company has a consensus rating of Buy and an average price target of $34.15.
Applied Materials (NASDAQ:AMAT) opened at 35.18 on Tuesday. Applied Materials has a 1-year low of $18.09 and a 1-year high of $35.85. The stock has a 50 day moving average price of $34.05 and a 200-day moving average price of $30.79. The stock has a market capitalization of $37.87 billion, a P/E ratio of 22.84 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Wednesday, February 15th. The manufacturing equipment provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company earned $3.28 billion during the quarter, compared to the consensus estimate of $3.27 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities research analysts expect 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. Shareholders of record on Wednesday, February 22nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 17th. This represents a $0.40 annualized dividend and a yield of 1.14%. Applied Materials’s dividend payout ratio is currently 25.64%.
In other Applied Materials news, Director Stephen R. Forrest sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $31.86, for a total transaction of $152,928.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas F. Larkins sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $31.94, for a total transaction of $3,194,000.00. Following the sale, the vice president now owns 482,782 shares of the company’s stock, valued at $15,420,057.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,817 shares of company stock valued at $4,018,421. 0.31% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd acquired a new stake in Applied Materials during the fourth quarter valued at about $457,000. Independent Advisor Alliance acquired a new stake in Applied Materials during the fourth quarter valued at about $105,000. Castleark Management LLC increased its stake in Applied Materials by 6.2% in the fourth quarter. Castleark Management LLC now owns 1,280,553 shares of the manufacturing equipment provider’s stock valued at $41,323,000 after buying an additional 75,053 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Applied Materials during the fourth quarter valued at about $34,447,000. Finally, United Capital Financial Advisers LLC increased its stake in Applied Materials by 76.7% in the fourth quarter. United Capital Financial Advisers LLC now owns 101,686 shares of the manufacturing equipment provider’s stock valued at $3,281,000 after buying an additional 44,138 shares in the last quarter. Institutional investors own 82.52% of the company’s stock.
Applied Materials Company Profile
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