Applied Materials, Inc. (NASDAQ:AMAT) had its price objective boosted by equities research analysts at Cowen and Company from $45.00 to $50.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the manufacturing equipment provider’s stock. Cowen and Company’s price objective suggests a potential upside of 13.43% from the company’s current price.

AMAT has been the subject of several other research reports. Bank of America Corp set a $40.00 price target on Applied Materials and gave the stock a “buy” rating in a report on Tuesday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of Applied Materials in a report on Friday, February 24th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 price target for the company in a report on Tuesday, April 11th. Argus reissued a “buy” rating and issued a $43.00 price target (up previously from $34.00) on shares of Applied Materials in a report on Wednesday, February 22nd. Finally, Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, February 17th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.72.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Applied Materials (NASDAQ:AMAT) traded up 0.39% during trading on Friday, hitting $44.08. The stock had a trading volume of 23,338,575 shares. The stock has a market capitalization of $47.60 billion, a PE ratio of 22.67 and a beta of 1.81. Applied Materials has a 52-week low of $22.17 and a 52-week high of $45.74. The stock’s 50-day moving average is $40.74 and its 200-day moving average is $35.68. Applied Materials also saw some unusual options trading on Thursday. Stock investors acquired 19,944 put options on the company. This is an increase of approximately 555% compared to the typical daily volume of 3,043 put options.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 44.7% compared to the same quarter last year. On average, analysts predict that Applied Materials will post $2.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 25th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, May 23rd. Applied Materials’s dividend payout ratio is currently 25.64%.

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A number of hedge funds have recently modified their holdings of AMAT. APG Asset Management N.V. raised its stake in shares of Applied Materials by 74.1% in the third quarter. APG Asset Management N.V. now owns 3,222,212 shares of the manufacturing equipment provider’s stock valued at $97,150,000 after buying an additional 1,371,234 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Applied Materials by 11.6% in the third quarter. Nordea Investment Management AB now owns 423,139 shares of the manufacturing equipment provider’s stock valued at $12,758,000 after buying an additional 44,110 shares during the last quarter. SignalPoint Asset Management LLC acquired a new stake in shares of Applied Materials during the third quarter valued at approximately $621,000. Mutual of America Capital Management LLC raised its stake in shares of Applied Materials by 7.7% in the third quarter. Mutual of America Capital Management LLC now owns 184,643 shares of the manufacturing equipment provider’s stock valued at $5,567,000 after buying an additional 13,213 shares during the last quarter. Finally, Todd Asset Management LLC acquired a new stake in shares of Applied Materials during the third quarter valued at approximately $16,330,000. 82.52% of the stock is currently owned by institutional investors.

About Applied Materials

12 Month Chart for NASDAQ:AMAT

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