Applied Materials Price Target Raised to $22.00 at Argus (AMAT)
Investment analysts at Argus boosted their price target on shares of Applied Materials (NASDAQ:AMAT) from $18.00 to $22.00 in a note issued to investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Argus’ price objective would indicate a potential upside of 26.11% from the stock’s previous close.
Shares of Applied Materials (NASDAQ:AMAT) traded up 2.38% on Wednesday, hitting $17.86. The stock had a trading volume of 25,267,284 shares. Applied Materials has a one year low of $9.95 and a one year high of $17.52. The stock has a 50-day moving average of $15.71 and a 200-day moving average of $14.96. The company’s market cap is $21.482 billion. Applied Materials also was the recipient of some unusual options trading activity on Tuesday. Traders bought 17,819 put options on the company. This represents an increase of 528% compared to the typical daily volume of 2,836 put options.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.01. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 15.7% on a year-over-year basis. On average, analysts predict that Applied Materials will post $0.59 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG raised their price target on shares of Applied Materials (NASDAQ:AMAT) from $15.00 to $18.75 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Pacific Crest raised their price target on shares of Applied Materials (NASDAQ:AMAT) from $19.00 to $21.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Applied Materials (NASDAQ:AMAT) from $17.50 to $20.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock.
Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $16.44.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, November 19th.
Applied Materials, Inc (NASDAQ:AMAT) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.
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