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Applied Materials (NASDAQ:AMAT) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $30.00 target price on the stock, up from their previous target price of $19.00. JPMorgan Chase & Co.’s price target would indicate a potential upside of 31.52% from the stock’s previous close.

The analysts wrote, “neutral” to “overweight.”

In other Applied Materials news, EVP Randhir Thakur unloaded 70,295 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $22.83, for a total transaction of $1,604,834.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Applied Materials (NASDAQ:AMAT) opened at 22.81 on Monday. Applied Materials has a 52-week low of $14.85 and a 52-week high of $23.22. 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 $27.769 billion and a price-to-earnings ratio of 32.37.

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. Shareholders 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.

A number of other firms have also recently commented on AMAT. 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. Separately, 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. Finally, analysts at Deutsche Bank raised their price target on shares of Applied Materials from $18.00 to $22.00 in a research note on Friday, June 27th. They now have a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $22.88.

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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