Applied Materials (NASDAQ: AMAT) has recently received a number of price target changes and ratings updates:

  • 5/22/2019 – Applied Materials was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Applied Materials reported strong fiscal second-quarter results on the back of strong demand for products, new technologies and innovation strategy. The company is riding on its inflection-focused innovation strategy which continues to be the primary growth driver. Further, technological advancements in semiconductor and display areas remain major positives. Also, robust 3D NAND and patterning equipment remain positives. The company remains confident on the opportunities beyond semiconductors, especially in mobile OLEDS and large screen televisions. However, the company’s high fixed cost structure remains a concern for its margin expansion. Further, a slowing smartphone market, especially in China, and its impact on chip demand remains an overhang. Notably, the shares of Applied Materials have underperformed the industry it belongs to over a year.”
  • 5/21/2019 – Applied Materials was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $45.00 price target on the stock. According to Zacks, “Applied Materials reported strong fiscal second-quarter results on the back of strong demand for products, new technologies and innovation strategy. The company is riding on its inflection-focused innovation strategy which continues to be the primary growth driver. Further, technological advancements in semiconductor and display areas remain major positives. Also, robust 3D NAND and patterning equipment remain positives. The company remains confident on the opportunities beyond semiconductors, especially in mobile OLEDS and large screen televisions. However, the company’s high fixed cost structure remains a concern for its margin expansion. Further, a slowing smartphone market, especially in China, and its impact on chip demand remains an overhang. Notably, the shares of Applied Materials have underperformed the industry it belongs to over a year.”
  • 5/19/2019 – Applied Materials had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $52.00 price target on the stock.
  • 5/17/2019 – Applied Materials had its price target raised by analysts at Wells Fargo & Co from $45.00 to $52.00. They now have an “outperform” rating on the stock.
  • 5/17/2019 – Applied Materials had its price target raised by analysts at Cowen Inc from $47.00 to $53.00. They now have an “outperform” rating on the stock.
  • 5/17/2019 – Applied Materials had its price target raised by analysts at UBS Group AG from $45.00 to $49.00. They now have a “neutral” rating on the stock.
  • 5/17/2019 – Applied Materials had its “neutral” rating reaffirmed by analysts at Bank of America Corp. They now have a $52.00 price target on the stock, up previously from $45.00.
  • 5/17/2019 – Applied Materials had its price target raised by analysts at Citigroup Inc from $51.00 to $52.00. They now have a “buy” rating on the stock.
  • 5/17/2019 – Applied Materials had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $50.00 price target on the stock, up previously from $44.00.
  • 5/17/2019 – Applied Materials was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $54.00 price target on the stock, up previously from $46.00.
  • 5/15/2019 – Applied Materials was upgraded by analysts at Susquehanna Bancshares Inc from a “neutral” rating to a “positive” rating. They now have a $60.00 price target on the stock, up previously from $34.00.
  • 5/10/2019 – Applied Materials was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 5/7/2019 – Applied Materials was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Applied Material is riding on its inflection-focused innovation strategy which continues to be the primary growth driver. Further, technological advancements in semiconductor and display areas remain major positives. Also, robust 3D NAND and patterning equipment remain positives. The company remains confident on the opportunities beyond semiconductors, especially in mobile OLEDS and large screen televisions. Estimates have been stable lately ahead of Q2 earnings release. The company has positive record of earnings in the recent quarters. However, the company’s high fixed cost structure remains a concern for its margin expansion. Further, a slowing smartphone market, especially in China, and its impact on chip demand remains an overhang. Notably, the shares of Applied Materials have underperformed the industry it belongs to over a year.”
  • 4/19/2019 – Applied Materials was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

Shares of Applied Materials stock traded up $0.21 on Friday, reaching $40.15. 226,122 shares of the company were exchanged, compared to its average volume of 10,444,148. Applied Materials, Inc. has a 1-year low of $28.79 and a 1-year high of $53.23. The company has a market cap of $39.18 billion, a PE ratio of 9.02, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.77 and a current ratio of 2.79.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, sell-side analysts predict that Applied Materials, Inc. will post 2.98 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.09%. Applied Materials’s payout ratio is currently 17.98%.

In other news, Director Stephen R. Forrest sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $42.45, for a total transaction of $84,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steve G. Ghanayem sold 25,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total value of $1,067,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,255 shares of company stock valued at $6,987,176. Corporate insiders own 0.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Inscription Capital LLC acquired a new position in Applied Materials in the first quarter valued at approximately $25,000. Squar Milner Financial Services LLC boosted its holdings in Applied Materials by 190.8% in the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock valued at $27,000 after purchasing an additional 458 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in Applied Materials in the first quarter valued at approximately $27,000. Sontag Advisory LLC acquired a new position in Applied Materials in the fourth quarter valued at approximately $30,000. Finally, Bruderman Asset Management LLC acquired a new position in Applied Materials in the fourth quarter valued at approximately $31,000. 76.39% of the stock is owned by institutional investors and hedge funds.

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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