Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reaffirmed by equities researchers at Pacific Crest in a report released on Thursday.

AMAT has been the topic of a number of other reports. Goldman Sachs Group Inc. set a $33.00 price target on Applied Materials and gave the company a “buy” rating in a report on Friday, August 19th. B. Riley restated a “buy” rating and issued a $27.00 price target on shares of Applied Materials in a report on Tuesday, July 5th. Vetr lowered 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 restated a “sector perform” rating and issued a $28.00 price target (up from $26.00) on shares of Applied Materials in a report on Wednesday, August 17th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Applied Materials in a report on Friday, June 10th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.72.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Shares of Applied Materials (NASDAQ:AMAT) traded down 0.85% during mid-day trading on Thursday, reaching $30.31. The company had a trading volume of 9,319,959 shares. The company has a market capitalization of $32.76 billion, a price-to-earnings ratio of 23.90 and a beta of 1.79. The firm’s 50-day moving average is $28.85 and its 200 day moving average is $24.11. Applied Materials has a 12 month low of $14.29 and a 12 month high of $31.07.

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Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.84 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, equities research analysts predict that Applied Materials will post $1.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.

In related news, VP Omkaram Nalamasu sold 26,035 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $30.15, for a total value of $784,955.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ali Salehpour sold 35,505 shares of the stock in a transaction on Friday, June 24th. The shares were sold at an average price of $24.06, for a total value 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Advisor Partners LLC increased its stake in Applied Materials by 0.3% in the first quarter. Advisor Partners LLC now owns 12,995 shares of the manufacturing equipment provider’s stock worth $275,000 after buying an additional 41 shares during the last quarter. Point View Wealth Management Inc. increased its stake in Applied Materials by 0.3% in the second quarter. Point View Wealth Management Inc. now owns 20,516 shares of the manufacturing equipment provider’s stock worth $492,000 after buying an additional 54 shares during the last quarter. Stephens Inc. AR increased its stake in Applied Materials by 0.5% in the second quarter. Stephens Inc. AR now owns 12,901 shares of the manufacturing equipment provider’s stock worth $309,000 after buying an additional 65 shares during the last quarter. First Manhattan Co. increased its stake in Applied Materials by 1.1% in the second quarter. First Manhattan Co. now owns 17,633 shares of the manufacturing equipment provider’s stock worth $422,000 after buying an additional 200 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Applied Materials by 3.5% in the second quarter. Advisors Asset Management Inc. now owns 8,922 shares of the manufacturing equipment provider’s stock worth $214,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 82.20% of the company’s stock.

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.

5 Day Chart for NASDAQ:AMAT

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