Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $45.72 price target on the manufacturing equipment provider’s stock. Vetr‘s price target points to a potential upside of 5.49% from the stock’s current price.

Several other analysts have also recently commented on the company. Bank of America Corporation reiterated a “buy” rating and set a $65.00 price target (up from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. B. Riley reiterated a “buy” rating and set a $56.00 price target on shares of Applied Materials in a research report on Thursday, May 25th. Instinet reiterated a “buy” rating and set a $47.00 price target (up from $40.00) on shares of Applied Materials in a research report on Sunday, May 21st. Morgan Stanley reiterated an “overweight” rating and set a $47.00 price target (up from $37.00) on shares of Applied Materials in a research report on Sunday, May 21st. Finally, Stifel Nicolaus boosted their price target on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Sunday, May 21st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Applied Materials presently has a consensus rating of “Buy” and an average target price of $44.89.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Applied Materials (NASDAQ AMAT) traded down 0.64% on Thursday, hitting $43.34. The stock had a trading volume of 7,632,051 shares. The company has a market cap of $46.57 billion, a PE ratio of 17.92 and a beta of 1.81. The company has a 50-day moving average of $44.26 and a 200 day moving average of $38.08. Applied Materials has a 12 month low of $22.17 and a 12 month high of $47.86.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 44.7% on a year-over-year basis. On average, analysts predict that Applied Materials will post $3.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s payout ratio is 16.46%.

COPYRIGHT VIOLATION NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/06/22/applied-materials-inc-amat-upgraded-by-vetr-inc-to-buy.html.

A number of institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC raised its position in Applied Materials by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 3,956,864 shares of the manufacturing equipment provider’s stock valued at $127,688,000 after buying an additional 109,324 shares during the last quarter. Fisher Asset Management LLC purchased a new position in Applied Materials during the first quarter valued at about $371,000. Capital Management Corp VA raised its position in Applied Materials by 1.8% in the first quarter. Capital Management Corp VA now owns 231,324 shares of the manufacturing equipment provider’s stock valued at $8,998,000 after buying an additional 4,076 shares during the last quarter. Oxford Asset Management purchased a new position in Applied Materials during the first quarter valued at about $4,956,000. Finally, Karp Capital Management Corp purchased a new position in Applied Materials during the first quarter valued at about $17,549,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Materials

To view Vetr’s full report, visit Vetr’s official website.

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.