Applied Materials Inc. (AMAT) Stock Rating Reaffirmed by Deutsche Bank AG
Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a research report issued on Thursday. They presently have a $33.00 price target on the manufacturing equipment provider’s stock. Deutsche Bank AG’s price objective indicates a potential upside of 7.95% from the stock’s current price.
Other research analysts have also issued reports about the stock. B. Riley restated a “buy” rating and set a $27.00 price objective on shares of Applied Materials in a research note on Friday, June 10th. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Monday, June 13th. Summit Redstone reiterated a “buy” rating on shares of Applied Materials in a research note on Wednesday, June 29th. Finally, S&P Equity Research set a $31.00 price target on shares of Applied Materials and gave the company a “hold” rating in a research note on Sunday, August 21st. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.72.
Shares of Applied Materials (NASDAQ:AMAT) traded down 0.92% on Thursday, reaching $30.29. 10,260,167 shares of the company’s stock were exchanged. Applied Materials has a 12 month low of $14.29 and a 12 month high of $31.07. The company has a market cap of $32.74 billion, a price-to-earnings ratio of 23.89 and a beta of 1.79. The firm’s 50-day moving average price is $28.85 and its 200 day moving average price is $24.11.
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Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.84 billion. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. Applied Materials’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. Equities research analysts predict that Applied Materials will post $1.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Omkaram Nalamasu sold 99,491 shares of the stock in a transaction on Thursday, September 1st. The stock was 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. Insiders own 0.25% of the company’s stock.
Large investors have recently bought and sold shares of the company. Teachers Advisors Inc. boosted its stake in Applied Materials by 63.8% in the first quarter. Teachers Advisors Inc. now owns 5,210,641 shares of the manufacturing equipment provider’s stock valued at $110,361,000 after buying an additional 2,030,178 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of 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 in the last quarter. Ngam Advisors L.P. raised its position in shares of Applied Materials by 2.5% in the first quarter. Ngam Advisors L.P. now owns 323,214 shares of the manufacturing equipment provider’s stock valued at $6,845,000 after buying an additional 7,763 shares in the last quarter. Morris Capital Advisors LLC bought a new position in shares of Applied Materials during the first quarter valued at about $283,000. Finally, CIBC World Markets Inc. bought a new position in shares of Applied Materials during the first quarter valued at about $3,495,000. Institutional investors own 82.20% of the company’s stock.
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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