Applied Materials, Inc. (AMAT) Stock Rating Reaffirmed by B. Riley
Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a research report issued on Saturday. They presently have a $56.00 price objective on the manufacturing equipment provider’s stock. B. Riley’s price target would suggest a potential upside of 27.04% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Needham & Company LLC increased their price objective on shares of Applied Materials to $43.00 in a research report on Thursday, February 16th. Summit Redstone reaffirmed a “buy” rating on shares of Applied Materials in a report on Saturday, January 21st. Argus reaffirmed a “buy” rating and set a $43.00 target price (up from $34.00) on shares of Applied Materials in a report on Wednesday, February 22nd. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, February 17th. Finally, Instinet upped their target price on shares of Applied Materials from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, February 17th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $41.72.
Applied Materials (NASDAQ:AMAT) traded up 0.39% during trading on Friday, hitting $44.08. 23,338,575 shares of the company’s stock traded hands. Applied Materials has a 12 month low of $22.17 and a 12 month high of $45.74. The company’s 50 day moving average is $40.74 and its 200-day moving average is $35.68. The stock has a market cap of $47.60 billion, a P/E ratio of 22.67 and a beta of 1.81. Applied Materials also saw some unusual options trading activity on Thursday. Stock investors acquired 19,944 put options on the company. This represents 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 the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. The firm’s revenue for the quarter was up 44.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. On average, analysts predict that Applied Materials will post $2.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 25th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.40 annualized dividend and a yield of 0.91%. Applied Materials’s dividend payout ratio (DPR) is currently 25.64%.
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A number of institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC raised its position in Applied Materials by 0.3% in the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 10 shares during the period. Beacon Capital Management acquired a new position in Applied Materials during the fourth quarter valued at approximately $0. Guardian Life Insurance Co. of America raised its position in Applied Materials by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock valued at $162,000 after buying an additional 29 shares during the period. Advisor Partners LLC raised its position 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 valued at $275,000 after buying an additional 41 shares during the period. Finally, Point View Wealth Management Inc. raised its position 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 during the period. Institutional investors and hedge funds own 82.52% of the company’s stock.
About Applied Materials
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