Royal Bank of Canada reaffirmed their hold rating on shares of Applied Materials (NASDAQ:AMAT) in a report released on Friday. Royal Bank of Canada currently has a $50.00 target price on the manufacturing equipment provider’s stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley downgraded Applied Materials from an overweight rating to an equal weight rating and reduced their price objective for the stock from $58.00 to $54.00 in a research report on Thursday, August 9th. B. Riley reduced their price objective on Applied Materials from $70.00 to $63.00 and set a buy rating on the stock in a research report on Friday. Citigroup reduced their price objective on Applied Materials from $73.00 to $68.00 and set a buy rating on the stock in a research report on Friday. Wells Fargo & Co cut their target price on Applied Materials from $65.00 to $60.00 and set an outperform rating for the company in a research note on Friday. Finally, Cowen started coverage on Applied Materials in a research note on Monday, May 14th. They set a market perform rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Applied Materials presently has a consensus rating of Buy and an average price target of $61.44.

Shares of Applied Materials stock opened at $43.53 on Friday. Applied Materials has a one year low of $42.62 and a one year high of $62.40. The company has a market cap of $48.52 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.80 and a beta of 1.63. The company has a current ratio of 2.60, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. research analysts predict that Applied Materials will post 4.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 23rd will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 22nd. This represents a $0.80 annualized dividend and a yield of 1.84%. Applied Materials’s dividend payout ratio (DPR) is 24.62%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Applied Materials by 10.5% in the first quarter. BlackRock Inc. now owns 76,112,124 shares of the manufacturing equipment provider’s stock valued at $4,232,597,000 after buying an additional 7,222,175 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Applied Materials by 25.8% in the second quarter. American Century Companies Inc. now owns 13,874,509 shares of the manufacturing equipment provider’s stock valued at $640,864,000 after buying an additional 2,844,738 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Applied Materials by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 13,804,704 shares of the manufacturing equipment provider’s stock valued at $637,639,000 after buying an additional 435,308 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Applied Materials by 1.4% in the first quarter. Epoch Investment Partners Inc. now owns 10,550,308 shares of the manufacturing equipment provider’s stock valued at $586,702,000 after buying an additional 144,093 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its stake in shares of Applied Materials by 22.6% in the first quarter. OppenheimerFunds Inc. now owns 8,151,015 shares of the manufacturing equipment provider’s stock valued at $453,279,000 after buying an additional 1,501,992 shares in the last quarter. 78.36% of the stock is owned by institutional investors and hedge funds.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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