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Shares of Applied Materials (NASDAQ:AMAT) hit a new 52-week high during trading on Monday , Analyst Ratings Network reports. The company traded as high as $23.46 and last traded at $22.97, with a volume of 7,752,508 shares traded. The stock had previously closed at $22.81.

Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Applied Materials from a “neutral” rating to an “overweight” rating in a research note on Monday. They now have a $30.00 price target on the stock, up previously from $19.00. Separately, analysts at Berenberg Bank raised their price target on shares of Applied Materials from $23.00 to $27.00 in a research note on Wednesday, July 2nd. They now have a “buy” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Applied Materials from $23.00 to $25.00 in a research note on Friday, June 27th. They now have a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.88.

The stock has a 50-day moving average of $21.53 and a 200-day moving average of $19.29. The company has a market cap of $27.903 billion and a P/E ratio of 32.40.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data 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. On average, analysts predict that Applied Materials will post $1.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Tuesday, August 19th.

In other Applied Materials news, EVP Randhir Thakur sold 70,295 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $22.83, for a total value of $1,604,834.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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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