Applied Materials Price Target Raised to $27.00 at DA Davidson (AMAT)
Analysts at DA Davidson lifted their target price on shares of Applied Materials (NASDAQ:AMAT) from $25.00 to $27.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 16.03% from the company’s current price.
Shares of Applied Materials (NASDAQ:AMAT) traded up 2.33% on Wednesday, hitting $23.27. The stock had a trading volume of 18,536,780 shares. Applied Materials has a one year low of $14.85 and a one year high of $23.46. The stock has a 50-day moving average of $21.81 and a 200-day moving average of $19.4. The company has a market cap of $28.329 billion and a price-to-earnings ratio of 32.30. Applied Materials also was the recipient of unusually large options trading on Monday. Stock investors purchased 14,022 call options on the company. This represents an increase of approximately 138% compared to the average volume of 5,890 call options.
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. Analysts expect that Applied Materials will post $1.06 EPS 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 1.72%. The ex-dividend date is Tuesday, August 19th.
In other Applied Materials news, EVP Randhir Thakur sold 70,295 shares of Applied Materials stock on the open market in a transaction dated 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 SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company LLC reiterated a “hold” rating on shares of Applied Materials in a research note on Tuesday. Separately, analysts at Piper Jaffray initiated coverage on shares of Applied Materials in a research note on Tuesday. They set an “overweight” rating and a $27.00 price target on the stock. Finally, analysts at Cowen and Company reiterated an “outperform” rating on shares of Applied Materials in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Applied Materials currently has an average rating of “Buy” and an average target price of $23.33.
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.