Share on StockTwits

Analysts at Deutsche Bank raised their price objective on shares of Applied Materials (NASDAQ:AMAT) from $18.00 to $22.00 in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target would suggest a potential downside of 1.87% from the company’s current price.

In other Applied Materials news, Director Thomas J. Iannotti unloaded 20,000 shares of the stock on the open market in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $22.73, for a total transaction of $454,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of other analysts have also recently weighed in on AMAT. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Applied Materials in a research note on Wednesday. They now have a $26.00 price target on the stock, up previously from $22.00. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $21.55.

Shares of Applied Materials (NASDAQ:AMAT) traded up 0.04% on Friday, hitting $22.43. 3,264,822 shares of the company’s stock traded hands. Applied Materials has a 52 week low of $14.62 and a 52 week high of $23.22. The stock has a 50-day moving average of $21.04 and a 200-day moving average of $19.08. The company has a market cap of $27.306 billion and a price-to-earnings ratio of 31.85. Applied Materials also saw a large decrease in short interest in June. As of June 13th, there was short interest totalling 71,699,600 shares, a decrease of 7.3% from the May 30th total of 77,360,636 shares. Currently, 5.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 14,847,620 shares, the days-to-cover ratio is currently 4.8 days.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.28 EPS for the quarter, meeting the Thomson Reuters 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. Analysts expect that Applied Materials will post $1.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 11th. Investors 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 1.78%. 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.