Applied Materials, Inc. (AMAT) Upgraded by Vetr Inc. to “Buy”
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.
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%.
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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.
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