Applied Materials Receives Average Rating of “Buy” from Brokerages (NASDAQ:AMAT)
Applied Materials (NASDAQ:AMAT) has earned a consensus recommendation of “Buy” from the twenty-five brokerages that are currently covering the stock, American Banking News reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, ten have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $21.17.
In other Applied Materials news, Director Thomas J. Iannotti unloaded 20,000 shares of Applied Materials stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $22.73, for a total transaction of $454,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at DA Davidson reiterated a “buy” rating on shares of Applied Materials in a research note on Friday, June 13th. They now have a $21.00 price target on the stock, down previously from $25.00. Separately, analysts at S&P Equity Research upgraded shares of Applied Materials from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Finally, analysts at Jefferies Group initiated coverage on shares of Applied Materials in a research note on Monday, June 2nd. They set a “buy” rating and a $28.00 price target on the stock.
Shares of Applied Materials (NASDAQ:AMAT) opened at 22.90 on Tuesday. Applied Materials has a 52-week low of $14.62 and a 52-week high of $22.99. The stock has a 50-day moving average of $20.7 and a 200-day moving average of $18.97. The company has a market cap of $27.878 billion and a price-to-earnings ratio of 32.53.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. On average, analysts predict that Applied Materials will post $1.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 11th. Stockholders of record on Thursday, August 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 1.75%. The ex-dividend date of this dividend is Tuesday, August 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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