B. Riley Increases Applied Materials Price Target to $17.00 (AMAT)
Analysts at B. Riley upped their price objective on shares of Applied Materials (NASDAQ:AMAT) to $17.00 in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “neutral” rating on the stock. B. Riley’s price objective points to a potential downside of 4.71% from the stock’s previous close.
Shares of Applied Materials (NASDAQ:AMAT) traded up 2.26% on Wednesday, hitting $17.84. 34,689,860 shares of the company’s stock traded hands. Applied Materials has a 1-year low of $9.95 and a 1-year high of $17.94. The stock has a 50-day moving average of $15.76 and a 200-day moving average of $14.9. The company’s market cap is $21.458 billion. Applied Materials also saw unusually large options trading on Tuesday. Investors bought 17,819 put options on the stock. This represents an increase of approximately 528% compared to the average volume of 2,836 put options.
Applied Materials (NASDAQ:AMAT) last released its earnings data 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. Analysts expect that Applied Materials will post $0.59 EPS for the current fiscal year.
AMAT has been the subject of a number of other recent research reports. Analysts at Argus raised their price target on shares of Applied Materials (NASDAQ:AMAT) from $18.00 to $22.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.
Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.53.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date 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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