Applied Materials, Inc. (NASDAQ:AMAT) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Applied Materials, Inc. (NASDAQ:AMAT) have received an average recommendation of “Buy” from the twenty-four analysts that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $46.62.
A number of equities analysts have weighed in on the stock. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price objective for the company in a research report on Monday. B. Riley reissued a “buy” rating and issued a $56.00 price objective on shares of Applied Materials in a research report on Sunday, July 16th. DA Davidson reissued a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research report on Monday, July 10th. Morgan Stanley reissued an “overweight” rating and issued a $52.00 price objective (up from $47.00) on shares of Applied Materials in a research report on Monday, July 10th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research report on Thursday, July 6th.
Shares of Applied Materials (NASDAQ:AMAT) traded down 0.13% during mid-day trading on Monday, hitting $46.75. The stock had a trading volume of 1,238,881 shares. Applied Materials has a 12-month low of $25.68 and a 12-month high of $47.86. The stock has a market cap of $50.24 billion, a P/E ratio of 19.33 and a beta of 1.81. The company’s 50 day moving average price is $44.47 and its 200 day moving average price is $39.76.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. 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 prior year, the company earned $0.34 EPS. The firm’s revenue was up 44.7% on a year-over-year basis. Equities research analysts predict that Applied Materials will post $3.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. Applied Materials’s payout ratio is currently 16.46%.
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Several large investors have recently made changes to their positions in AMAT. Reilly Financial Advisors LLC raised its stake 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 during the last quarter. Pinnacle Bank purchased a new stake in shares of Applied Materials during the first quarter valued at approximately $113,000. State of Alaska Department of Revenue purchased a new stake in shares of Applied Materials during the first quarter valued at approximately $114,000. James Investment Research Inc. raised its stake 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 during the last quarter. Finally, Clean Yield Group purchased a new stake in shares of Applied Materials during the first quarter valued at approximately $124,000. Institutional investors own 80.18% of the company’s stock.
Applied Materials Company Profile
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