Vetr upgraded shares of Applied Materials, Inc. (NASDAQ:AMAT) from a hold rating to a buy rating in a report released on Friday morning. Vetr currently has $47.32 target price on the manufacturing equipment provider’s stock.

Other research analysts have also issued reports about the stock. Credit Suisse Group upgraded shares of Applied Materials to a buy rating and set a $54.00 price target for the company in a research note on Friday, May 19th. Deutsche Bank AG reiterated a buy rating and issued a $48.00 price target (up from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. UBS AG reissued a buy rating and set a $44.00 price objective on shares of Applied Materials in a research report on Monday, March 20th. Bank of America Corporation reissued a buy rating and set a $54.00 price objective (up from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, Citigroup Inc. reissued a buy rating and set a $50.00 price objective on shares of Applied Materials in a research report on Wednesday, May 17th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Applied Materials currently has a consensus rating of Buy and a consensus price target of $46.56.

Shares of Applied Materials (AMAT) traded up 0.07% on Friday, hitting $46.15. 7,679,902 shares of the stock were exchanged. Applied Materials has a 12 month low of $25.68 and a 12 month high of $47.86. The company has a 50-day moving average price of $44.46 and a 200 day moving average price of $38.54. The company has a market cap of $49.59 billion, a PE ratio of 19.09 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. Applied Materials’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. Equities analysts forecast that Applied Materials will post $3.11 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors 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 dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s payout ratio is 16.46%.

Several institutional investors have recently bought and sold shares of the company. MCF Advisors LLC increased its position in Applied Materials by 0.3% in the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 10 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in Applied Materials by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after buying an additional 29 shares during the last quarter. Regentatlantic Capital LLC increased its position in Applied Materials by 0.3% in the first quarter. Regentatlantic Capital LLC now owns 18,738 shares of the manufacturing equipment provider’s stock worth $729,000 after buying an additional 58 shares during the last quarter. RMB Capital Management LLC increased its position in Applied Materials by 1.0% in the first quarter. RMB Capital Management LLC now owns 6,280 shares of the manufacturing equipment provider’s stock worth $244,000 after buying an additional 60 shares during the last quarter. Finally, Hanson McClain Inc. increased its position 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. 79.78% of the stock is currently owned by institutional investors.

Applied Materials Company Profile

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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