Applied Materials, Inc. (AMAT) Receives Average Rating of “Buy” from Brokerages
Applied Materials, Inc. (NASDAQ:AMAT) has been given a consensus recommendation of “Buy” by the twenty-three ratings firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $44.89.
A number of research firms have recently commented on AMAT. Credit Suisse Group upgraded shares of Applied Materials to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, May 19th. Deutsche Bank AG reiterated a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Applied Materials in a report on Friday, May 19th. Vetr cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $42.81 price target on the stock. in a report on Wednesday, April 19th. Bank of America Corporation reiterated a “buy” rating and set a $54.00 price target (up previously from $45.00) on shares of Applied Materials in a report on Wednesday, May 17th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $50.00 price target on shares of Applied Materials in a report on Wednesday, May 17th.
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Applied Materials (NASDAQ:AMAT) traded down 0.95% during trading on Tuesday, reaching $42.84. The company’s stock had a trading volume of 3,528,191 shares. Applied Materials has a one year low of $22.17 and a one year high of $47.86. The company has a 50-day moving average of $44.26 and a 200 day moving average of $38.08. The firm has a market cap of $46.04 billion, a PE ratio of 17.72 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last announced its earnings results 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. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up 44.7% on a year-over-year basis. Analysts expect that Applied Materials will post $3.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders 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 dividend yield of 0.92%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s dividend payout ratio is presently 16.46%.
Several hedge funds and other institutional investors have recently modified their holdings of AMAT. Independent Advisor Alliance acquired a new position in shares of Applied Materials during the fourth quarter valued at $105,000. Reilly Financial Advisors LLC boosted its position in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock valued at $105,000 after buying an additional 1,180 shares in the last quarter. Pinnacle Bank acquired a new position in shares of Applied Materials during the first quarter valued at $113,000. State of Alaska Department of Revenue acquired a new position in shares of Applied Materials during the first quarter valued at $114,000. Finally, James Investment Research Inc. boosted its position in shares of Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock valued at $119,000 after buying an additional 1,450 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.
About Applied Materials
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