Shares of Applied Materials, Inc. (NASDAQ:AMAT) have been assigned a consensus recommendation of “Buy” from the twenty-seven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $61.23.

AMAT has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Applied Materials in a research note on Friday, October 27th. Bank of America boosted their price target on shares of Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, November 28th. Wells Fargo & Co initiated coverage on shares of Applied Materials in a research report on Tuesday, December 5th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th.

In other news, VP Omkaram Nalamasu sold 53,466 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total value of $2,833,698.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,716 shares of company stock worth $16,218,746. 0.31% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of AMAT. Bahl & Gaynor Inc. raised its holdings in shares of Applied Materials by 20.7% in the 2nd quarter. Bahl & Gaynor Inc. now owns 7,515 shares of the manufacturing equipment provider’s stock valued at $243,000 after purchasing an additional 1,290 shares during the period. Strategic Global Advisors LLC grew its stake in Applied Materials by 69.0% in the 2nd quarter. Strategic Global Advisors LLC now owns 26,261 shares of the manufacturing equipment provider’s stock valued at $1,085,000 after buying an additional 10,720 shares during the last quarter. Kempen Capital Management N.V. acquired a new position in Applied Materials in the 2nd quarter valued at about $3,260,000. Harvest Fund Management Co. Ltd grew its stake in Applied Materials by 178.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 4,722 shares of the manufacturing equipment provider’s stock valued at $195,000 after buying an additional 3,025 shares during the last quarter. Finally, Capital Growth Management LP acquired a new position in Applied Materials in the 2nd quarter valued at about $31,809,000. 79.76% of the stock is currently owned by institutional investors.

Applied Materials (NASDAQ AMAT) opened at $53.45 on Monday. The firm has a market cap of $56,460.00, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.05 and a beta of 1.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. Applied Materials has a one year low of $33.09 and a one year high of $60.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. analysts predict that Applied Materials will post 4.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. Applied Materials’s payout ratio is 12.62%.

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Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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