Nomura Reaffirms Buy Rating for Applied Materials Inc. (AMAT)
Applied Materials Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reiterated by stock analysts at Nomura in a research report issued on Thursday. They presently have a $31.00 price target on the manufacturing equipment provider’s stock. Nomura’s target price points to a potential upside of 1.41% from the company’s previous close.
Several other research firms have also commented on AMAT. Berenberg Bank upped their price target on shares of Applied Materials to $35.00 in a research report on Thursday. B. Riley restated an “amat ($29.20” rating and set a $39.00 price target on shares of Applied Materials in a research report on Sunday, August 21st. Credit Suisse Group AG restated a “buy” rating on shares of Applied Materials in a research report 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 for the company in a research report on Monday, June 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of Applied Materials in a research report on Monday, June 13th. Six equities research 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.72.
Applied Materials (NASDAQ:AMAT) traded down 0.926% during trading on Thursday, reaching $30.287. 8,445,083 shares of the company’s stock traded hands. Applied Materials has a 12 month low of $14.29 and a 12 month high of $31.07. The company has a 50-day moving average of $28.85 and a 200 day moving average of $24.11. The stock has a market capitalization of $32.74 billion, a P/E ratio of 23.886 and a beta of 1.79.
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Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, beating the 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 earned $2.82 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that Applied Materials will post $1.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a dividend of $0.10 per share. 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 payout ratio is currently 31.25%.
In other Applied Materials news, VP Omkaram Nalamasu sold 99,491 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ali Salehpour sold 35,505 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $24.06, for a total value of $854,250.30. Following the sale, the vice president now directly owns 495,691 shares of the company’s stock, valued at approximately $11,926,325.46. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Large investors have recently made changes to their positions in the company. Advisor Partners LLC boosted its stake in shares of 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. boosted 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 valued at $492,000 after buying an additional 54 shares in the last quarter. Stephens Inc. AR boosted 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 valued at $309,000 after buying an additional 65 shares in the last quarter. First Manhattan Co. boosted 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 valued at $422,000 after buying an additional 200 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted 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 valued at $214,000 after buying an additional 305 shares in the last quarter. 82.20% of the stock is owned by hedge funds and other 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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