Applied Materials Inc. (AMAT) Price Target Raised to $35.00 at Berenberg Bank
Applied Materials Inc. (NASDAQ:AMAT) had its price objective increased by equities researchers at Berenberg Bank to $35.00 in a note issued to investors on Thursday. Berenberg Bank’s price target points to a potential upside of 14.49% from the company’s current price.
Other research analysts have also issued research reports about the stock. B. Riley restated an “amat ($29.20” rating and issued a $39.00 price target on shares of Applied Materials in a report on Sunday, August 21st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Applied Materials in a research report on Friday, June 10th. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Monday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Applied Materials in a research report on Monday, June 13th. Finally, Stifel Nicolaus increased their price objective on shares of Applied Materials from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, May 27th. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.59.
Applied Materials (NASDAQ:AMAT) opened at 31.0064 on Thursday. The firm’s 50-day moving average is $28.85 and its 200-day moving average is $24.11. Applied Materials has a 52 week low of $14.29 and a 52 week high of $31.03. The stock has a market capitalization of $33.51 billion, a P/E ratio of 24.4530 and a beta of 1.79.
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Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm posted $0.33 earnings per share. Applied Materials’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Applied Materials will post $1.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.31%. Applied Materials’s dividend payout ratio is currently 31.25%.
In related news, VP Ali Salehpour sold 35,505 shares of Applied Materials stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $24.06, for a total value of $854,250.30. Following the transaction, the vice president now owns 495,691 shares of the company’s stock, valued at approximately $11,926,325.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Omkaram Nalamasu sold 26,035 shares of Applied Materials stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $30.15, for a total value of $784,955.25. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Applied Materials by 65.3% in the second quarter. FMR LLC now owns 32,620,245 shares of the manufacturing equipment provider’s stock valued at $781,907,000 after buying an additional 12,881,391 shares during the period. Winslow Capital Management LLC acquired a new position in Applied Materials during the second quarter valued at $173,715,000. Emerald Acquisition Ltd. acquired a new position in Applied Materials during the second quarter valued at $113,508,000. Old Mutual Global Investors UK Ltd. acquired a new position in Applied Materials during the second quarter valued at $74,805,000. Finally, TIAA CREF Investment Management LLC boosted its position in Applied Materials by 35.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,948,114 shares of the manufacturing equipment provider’s stock valued at $231,881,000 after buying an additional 2,885,695 shares during the period. 82.20% of the stock is currently owned by institutional investors.
Applied Materials Company Profile
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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