Applied Materials (AMAT) Cut to Buy at Vetr
Vetr cut shares of Applied Materials (NASDAQ:AMAT) from a strong-buy rating to a buy rating in a report released on Monday. The firm currently has $62.50 target price on the manufacturing equipment provider’s stock.
A number of other analysts have also issued reports on the company. Royal Bank of Canada reissued a buy rating on shares of Applied Materials in a research report on Friday, October 27th. Bank of America boosted their target price on Applied Materials from $65.00 to $76.00 and gave the company a buy rating in a research report on Wednesday, November 15th. Zacks Investment Research raised Applied Materials from a hold rating to a buy rating and set a $64.00 target price on the stock in a research report on Tuesday, November 28th. Wells Fargo & Co started coverage on Applied Materials in a research report on Tuesday, December 5th. They issued an outperform rating and a $65.00 target price on the stock. Finally, BidaskClub lowered Applied Materials from a buy rating to a hold rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $61.22.
Applied Materials (NASDAQ:AMAT) traded down $1.06 on Monday, reaching $54.86. The company had a trading volume of 13,522,900 shares, compared to its average volume of 11,800,000. Applied Materials has a 12-month low of $32.21 and a 12-month high of $60.89. The firm has a market capitalization of $57,950.00, a PE ratio of 17.31, a PEG ratio of 1.07 and a beta of 1.81. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. equities analysts predict that Applied Materials will post 4.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, February 20th. Applied Materials’s dividend payout ratio is currently 12.62%.
In other news, VP Omkaram Nalamasu sold 53,466 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The disclosure for this sale can be found here. Insiders have sold 312,716 shares of company stock worth $16,218,746 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Mathes Company Inc. acquired a new position in shares of Applied Materials during the third quarter worth $1,613,000. Janus Henderson Group PLC grew its stake in shares of Applied Materials by 5.7% during the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after purchasing an additional 650,755 shares in the last quarter. Bridgewater Associates LP acquired a new position in shares of Applied Materials during the second quarter worth $8,834,000. Paragon Capital Management Ltd acquired a new position in shares of Applied Materials during the third quarter worth $267,000. Finally, Swiss National Bank grew its stake in shares of Applied Materials by 0.4% during the third quarter. Swiss National Bank now owns 3,962,722 shares of the manufacturing equipment provider’s stock worth $206,418,000 after purchasing an additional 17,400 shares in the last quarter. 79.76% of the stock is currently owned by institutional investors and hedge funds.
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Applied Materials Company Profile
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