KeyCorp restated their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a research note released on Friday morning. They currently have a $59.00 target price on the manufacturing equipment provider’s stock.

Other equities analysts also recently issued research reports about the stock. B. Riley reiterated a buy rating and issued a $56.00 price target on shares of Applied Materials in a report on Tuesday, July 11th. UBS AG reiterated a buy rating and issued a $52.00 price target on shares of Applied Materials in a report on Tuesday, June 13th. Vetr upgraded shares of Applied Materials from a buy rating to a strong-buy rating and set a $48.16 price target on the stock in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of Applied Materials from a buy rating to a hold rating in a report on Monday, August 14th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $61.00 price target (up previously from $55.00) on shares of Applied Materials in a report on Friday, August 18th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $55.31.

Shares of Applied Materials (NASDAQ:AMAT) traded up 2.90% during mid-day trading on Friday, hitting $52.09. 21,008,733 shares of the stock were exchanged. Applied Materials has a 52-week low of $27.56 and a 52-week high of $52.28. The firm has a market cap of $55.55 billion, a price-to-earnings ratio of 18.52 and a beta of 1.81. The stock has a 50-day moving average price of $44.50 and a 200 day moving average price of $42.82.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company earned $0.50 EPS. Applied Materials’s quarterly revenue was up 32.7% on a year-over-year basis. On average, equities research analysts expect that Applied Materials will post $3.20 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is currently 14.18%.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Applied Materials by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock valued at $3,101,736,000 after acquiring an additional 1,721,964 shares in the last quarter. BlackRock Inc. grew its position in Applied Materials by 2,063.7% in the 1st quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after acquiring an additional 63,912,660 shares in the last quarter. State Street Corp grew its position in Applied Materials by 2.1% in the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock valued at $2,019,939,000 after acquiring an additional 985,296 shares in the last quarter. FMR LLC grew its position in Applied Materials by 16.8% in the 1st quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after acquiring an additional 4,604,275 shares in the last quarter. Finally, Capital Research Global Investors grew its position in Applied Materials by 14.8% in the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after acquiring an additional 2,284,836 shares in the last quarter. 79.47% of the stock is owned by institutional investors.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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