Applied Materials Inc. (AMAT) Price Target Increased to $35.00 by Analysts at Berenberg Bank
Applied Materials Inc. (NASDAQ:AMAT) had its price target raised by analysts at Berenberg Bank to $35.00 in a report issued on Thursday. Berenberg Bank’s price target would indicate a potential upside of 14.49% from the stock’s current price.
Several other research analysts have also recently weighed in on the stock. Goldman Sachs Group Inc. set a $33.00 price target on shares of Applied Materials and gave the stock a “buy” rating in a report on Friday, August 19th. B. Riley reaffirmed a “buy” rating and issued a $27.00 price target on shares of Applied Materials in a report on Tuesday, July 5th. Vetr cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Tuesday, May 31st. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $28.00 price target (up previously from $26.00) on shares of Applied Materials in a report on Wednesday, August 17th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Applied Materials in a report on Friday, June 10th. Six analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.59.
Shares of Applied Materials (NASDAQ:AMAT) opened at 30.57 on Thursday. The firm has a 50-day moving average price of $28.85 and a 200 day moving average price of $24.11. The company has a market cap of $33.04 billion, a price-to-earnings ratio of 24.11 and a beta of 1.79. Applied Materials has a 1-year low of $14.29 and a 1-year high of $30.78.
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Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts predict that Applied Materials will post $1.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is 31.25%.
In related news, VP Ali Salehpour sold 35,505 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $24.06, for a total transaction of $854,250.30. Following the completion of the sale, the vice president now owns 495,691 shares of the company’s stock, valued at $11,926,325.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Omkaram Nalamasu sold 99,491 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $30.15, for a total transaction of $2,999,653.65. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Applied Materials during the first quarter valued at $335,000. PGGM Investments increased its stake in shares of Applied Materials by 2.5% in the first quarter. PGGM Investments now owns 805,219 shares of the manufacturing equipment provider’s stock valued at $17,055,000 after buying an additional 19,548 shares during the period. Aperio Group LLC increased its stake in shares of Applied Materials by 11.3% in the first quarter. Aperio Group LLC now owns 392,229 shares of the manufacturing equipment provider’s stock valued at $8,307,000 after buying an additional 39,727 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Applied Materials during the first quarter valued at $558,000. Finally, Nisa Investment Advisors L.L.C. increased its stake in shares of Applied Materials by 28.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 303,266 shares of the manufacturing equipment provider’s stock valued at $6,423,000 after buying an additional 66,700 shares during the period. 82.20% of the stock is owned by institutional investors.
About Applied Materials
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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