Applied Materials Stock Rating Reaffirmed by Cowen and Company (AMAT)
AMAT has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Applied Materials from $18.00 to $20.00 in a research note on Tuesday. They now have a “sector perform” rating on the stock. Separately, 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. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $23.03.
Applied Materials (NASDAQ:AMAT) traded down 0.37% during mid-day trading on Tuesday, hitting $22.875. 5,805,441 shares of the company’s stock traded hands. Applied Materials has a 1-year low of $14.85 and a 1-year high of $23.46. The stock’s 50-day moving average is $21.69 and its 200-day moving average is $19.39. The company has a market cap of $27.848 billion and a price-to-earnings ratio of 32.61. Applied Materials also was the target of unusually large options trading on Monday. Stock investors bought 14,022 call options on the company. This represents an increase of 138% compared to the typical daily volume of 5,890 call options.
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 $1.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 11th. Stockholders 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 1.74%. The ex-dividend date is Tuesday, August 19th.
In other Applied Materials news, EVP Randhir Thakur sold 70,295 shares of the stock on the open market in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $22.83, for a total value of $1,604,834.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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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