Applied Materials, Inc. (AMAT) Stock Rating Reaffirmed by Credit Suisse Group
Several other equities analysts also recently issued reports on AMAT. B. Riley reaffirmed a buy rating and set a $44.00 price target on shares of Applied Materials in a research note on Monday, May 15th. UBS AG reaffirmed a buy rating and set a $51.00 price target (up previously from $44.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Instinet reaffirmed a buy rating and set a $50.00 price target (up previously from $47.00) on shares of Applied Materials in a research note on Monday, August 21st. Finally, Nomura lifted their target price on shares of Applied Materials from $47.00 to $50.00 and gave the stock a buy rating in a research note on Friday, August 18th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $51.44.
Shares of Applied Materials (NASDAQ AMAT) opened at 45.10 on Tuesday. The firm’s 50-day moving average is $44.64 and its 200-day moving average is $41.95. The firm has a market cap of $48.10 billion, a price-to-earnings ratio of 16.03 and a beta of 1.81. Applied Materials has a 12-month low of $27.56 and a 12-month high of $47.86.
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, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. Analysts predict that Applied Materials will post $3.21 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s payout ratio is 14.18%.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.
A number of large investors have recently bought and sold shares of AMAT. State of Alaska Department of Revenue bought a new stake in Applied Materials during the first quarter worth approximately $114,000. Clean Yield Group bought a new stake in Applied Materials during the first quarter worth approximately $124,000. Wunderlich Capital Managemnt boosted its stake in Applied Materials by 2.9% in 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 during the last quarter. Bessemer Group Inc. boosted its stake in Applied Materials by 145.4% in 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 during the last quarter. Finally, Hanson McClain Inc. boosted its stake in Applied Materials by 4.3% in the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
About Applied Materials
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