Applied Materials, Inc. (AMAT) Rating Reiterated by B. Riley
Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reaffirmed by B. Riley in a research note issued on Thursday. They currently have a $56.00 target price on the manufacturing equipment provider’s stock. B. Riley’s target price points to a potential upside of 24.39% from the company’s previous close.
AMAT has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of Applied Materials in a report on Friday, February 24th. Instinet increased their price objective on Applied Materials from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 price target on the stock in a report on Tuesday, April 11th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, February 17th. Finally, Royal Bank of Canada raised their price target on Applied Materials from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, February 16th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.23.
Applied Materials (NASDAQ:AMAT) traded up 0.87% on Thursday, reaching $45.02. The company had a trading volume of 8,662,228 shares. The stock’s 50-day moving average price is $41.24 and its 200-day moving average price is $36.09. The stock has a market capitalization of $48.53 billion, a P/E ratio of 18.62 and a beta of 1.81. Applied Materials has a 12-month low of $22.17 and a 12-month high of $45.74.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The firm’s quarterly revenue was up 44.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, equities research analysts anticipate that Applied Materials will post $2.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 25th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, May 23rd. Applied Materials’s payout ratio is currently 25.64%.
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Several hedge funds have recently modified their holdings of AMAT. Beacon Capital Management purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $0. Thompson Davis & CO. Inc. raised its stake in shares of Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock valued at $101,000 after buying an additional 2,418 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Applied Materials during the third quarter valued at approximately $103,000. TLP Group LLC purchased a new stake in shares of Applied Materials during the second quarter valued at approximately $105,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $105,000. 82.52% of the stock is owned by institutional investors.
About Applied Materials
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