Applied Materials (NASDAQ:AMAT) had its target price lifted by stock analysts at KeyCorp from $67.00 to $74.00 in a report issued on Thursday. The firm presently has an “overweight” rating on the manufacturing equipment provider’s stock. KeyCorp’s price target would suggest a potential upside of 34.47% from the company’s current price. KeyCorp also issued estimates for Applied Materials’ Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.13 EPS, Q4 2018 earnings at $1.06 EPS, FY2018 earnings at $4.38 EPS, Q1 2019 earnings at $1.01 EPS, Q2 2019 earnings at $1.11 EPS, Q3 2019 earnings at $1.20 EPS, Q4 2019 earnings at $1.20 EPS and FY2019 earnings at $4.52 EPS.
Other equities analysts have also recently issued research reports about the stock. Vetr cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 price objective on the stock. in a research report on Tuesday, November 21st. Nomura restated a “buy” rating and issued a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a research report on Tuesday, November 21st. Citigroup boosted their price objective on shares of Applied Materials from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, November 20th. BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, ValuEngine upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $63.84.
Applied Materials (AMAT) traded up $1.04 during mid-day trading on Thursday, hitting $55.03. 27,681,929 shares of the company’s stock were exchanged, compared to its average volume of 14,750,000. Applied Materials has a 12-month low of $34.58 and a 12-month high of $60.89. The stock has a market capitalization of $57,980.00, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.72. 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 announced that its board has approved a stock repurchase program on Wednesday, February 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $51.47, for a total transaction of $6,440,183.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Insiders have sold 312,716 shares of company stock worth $16,218,746 in the last three months. 0.35% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. HM Payson & Co. boosted its stake in Applied Materials by 65.1% during the fourth quarter. HM Payson & Co. now owns 216,772 shares of the manufacturing equipment provider’s stock worth $11,081,000 after acquiring an additional 85,438 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Applied Materials by 48.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 61,500 shares of the manufacturing equipment provider’s stock worth $3,144,000 after acquiring an additional 20,200 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in Applied Materials by 68.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 6,042 shares of the manufacturing equipment provider’s stock worth $299,000 after acquiring an additional 2,457 shares in the last quarter. Vanguard Capital Wealth Advisors bought a new stake in Applied Materials during the fourth quarter worth about $1,313,000. Finally, MetLife Investment Advisors LLC bought a new stake in Applied Materials during the fourth quarter worth about $16,869,000. 79.30% of the stock is currently owned by institutional investors and hedge funds.
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About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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