Applied Materials, Inc. (AMAT) Raised to “Buy” at Vetr Inc.
Vetr upgraded shares of Applied Materials, Inc. (NASDAQ:AMAT) from a hold rating to a buy rating in a research report sent to investors on Friday. They currently have $49.11 price target on the manufacturing equipment provider’s stock.
Several other equities research analysts have also recently issued reports on AMAT. B. Riley reaffirmed a buy rating and set a $56.00 price target on shares of Applied Materials in a research note on Tuesday, July 11th. UBS AG reaffirmed a buy rating and set a $52.00 price target on shares of Applied Materials in a research note on Tuesday, June 13th. KeyCorp reaffirmed an outperform rating and set a $57.00 price target on shares of Applied Materials in a research note on Saturday, September 16th. Instinet reaffirmed a buy rating and set a $50.00 price target (up from $47.00) on shares of Applied Materials in a research note on Monday, August 21st. Finally, BidaskClub lowered shares of Applied Materials from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $52.69.
Shares of Applied Materials (NASDAQ:AMAT) opened at 47.77 on Friday. Applied Materials has a 1-year low of $27.56 and a 1-year high of $48.53. The stock has a market capitalization of $50.95 billion, a P/E ratio of 16.98 and a beta of 1.81. The stock has a 50 day moving average of $44.50 and a 200-day moving average of $42.82.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) 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 analysts’ expectations of $3.69 billion. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities research analysts predict that Applied Materials will post $3.20 earnings per share for the current fiscal year.
The company also recently disclosed 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 0.84%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 14.18%.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. MPS Loria Financial Planners LLC acquired a new stake in Applied Materials in the second quarter valued at approximately $109,000. Wunderlich Capital Managemnt grew its position in shares of Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after buying an additional 1,817 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Applied Materials during the second quarter worth approximately $134,000. Finally, IHT Wealth Management LLC grew its position in shares of Applied Materials by 67.8% during the second quarter. IHT Wealth Management LLC now owns 3,344 shares of the manufacturing equipment provider’s stock worth $148,000 after buying an additional 1,351 shares in the last quarter. 79.47% of the stock is owned by institutional investors.
About Applied Materials
To view Vetr’s full report, visit Vetr’s official website.
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