Cowen and Company Reiterates “Buy” Rating for Applied Materials, Inc. (NASDAQ:AMAT)
Cowen and Company reissued their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a report published on Friday morning. The firm currently has a $50.00 price objective on the manufacturing equipment provider’s stock.
Other research analysts also recently issued reports about the company. UBS AG restated a buy rating and set a $51.00 price objective (up from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. B. Riley restated a buy rating and set a $44.00 price objective on shares of Applied Materials in a research report on Monday, May 15th. Royal Bank Of Canada restated a hold rating and set a $35.00 price objective on shares of Applied Materials in a research report on Tuesday, April 25th. Vetr upgraded Applied Materials from a hold rating to a buy rating and set a $47.32 price objective for the company in a research report on Friday, July 14th. Finally, Bank of America Corp restated 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. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $46.62.
Shares of Applied Materials (NASDAQ:AMAT) opened at 44.31 on Friday. The stock has a market capitalization of $47.62 billion, a price-to-earnings ratio of 18.33 and a beta of 1.81. The stock has a 50 day moving average price of $44.40 and a 200-day moving average price of $40.50. Applied Materials has a 52-week low of $25.68 and a 52-week high of $47.86.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data 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. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 44.7% compared to the same quarter last year. On average, equities research analysts predict that Applied Materials will post $3.11 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.90%. Applied Materials’s payout ratio is 16.46%.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after buying an additional 63,912,660 shares during the last quarter. Egerton Capital UK LLP acquired a new position in Applied Materials during the first quarter valued at $452,897,000. FMR LLC raised its position in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares during the last quarter. LSV Asset Management raised its position in Applied Materials by 151.5% in the first quarter. LSV Asset Management now owns 7,572,100 shares of the manufacturing equipment provider’s stock valued at $294,554,000 after buying an additional 4,561,500 shares during the last quarter. Finally, Swedbank acquired a new position in Applied Materials during the second quarter valued at $135,363,000. Institutional investors and hedge funds own 80.06% of the company’s stock.
About Applied Materials
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