Applied Materials, Inc. (AMAT) Receives Average Rating of “Buy” from Brokerages
Shares of Applied Materials, Inc. (NASDAQ:AMAT) have earned a consensus recommendation of “Buy” from the twenty-five ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $56.51.
A number of brokerages have weighed in on AMAT. Credit Suisse Group reissued a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 29th. Goldman Sachs Group, Inc. (The) raised Applied Materials from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $52.00 in a research note on Wednesday, September 13th. Morgan Stanley reissued an “overweight” rating on shares of Applied Materials in a research note on Thursday, September 14th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price target on the stock in a research note on Monday, July 31st. Finally, Nomura increased their price target on Applied Materials from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 18th.
Shares of Applied Materials (NASDAQ AMAT) opened at 56.43 on Wednesday. Applied Materials has a 12-month low of $28.02 and a 12-month high of $56.82. The company has a 50 day moving average price of $51.76 and a 200 day moving average price of $45.86. The firm has a market cap of $60.18 billion, a PE ratio of 20.06 and a beta of 1.86.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the company earned $0.50 EPS. Applied Materials’s revenue was up 32.7% on a year-over-year basis. On average, analysts forecast that Applied Materials will post $3.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.
In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Applied Materials during the third quarter worth approximately $105,000. MPS Loria Financial Planners LLC bought a new stake in shares of Applied Materials during the second quarter worth approximately $109,000. Mosaic Family Wealth LLC raised its stake in shares of Applied Materials by 56.1% during the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 984 shares during the last quarter. Wunderlich Capital Managemnt increased its stake in Applied Materials by 2.9% in the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after purchasing an additional 87 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after purchasing an additional 1,817 shares in the last quarter. Institutional investors own 79.51% of the company’s stock.
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About Applied Materials
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