Shares of Applied Materials, Inc. (NASDAQ:AMAT – Get Free Report) have earned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $199.29.
AMAT has been the subject of a number of recent research reports. Mizuho decreased their price objective on shares of Applied Materials from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Stifel Nicolaus decreased their price objective on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Wall Street Zen cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $162.00 to $158.00 in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Applied Materials from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, May 16th.
Get Our Latest Analysis on AMAT
Applied Materials Trading Up 3.5%
Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Applied Materials’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, sell-side analysts forecast that Applied Materials will post 9.38 EPS for the current fiscal year.
Applied Materials Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio is currently 22.38%.
Applied Materials declared that its Board of Directors has approved a share buyback plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
Insider Activity
In related news, CAO Adam Sanders sold 450 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the sale, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at $880,131.91. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gary E. Dickerson bought 50,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the purchase, the chief executive officer now owns 1,716,058 shares of the company’s stock, valued at $235,614,763.40. This trade represents a 3.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.
Institutional Trading of Applied Materials
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMAT. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the fourth quarter valued at about $28,000. Runnymede Capital Advisors Inc. grew its stake in Applied Materials by 972.2% during the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock worth $28,000 after buying an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in Applied Materials during the first quarter worth about $29,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Applied Materials by 435.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider’s stock worth $31,000 after buying an additional 174 shares during the last quarter. Finally, Activest Wealth Management grew its stake in Applied Materials by 5,325.0% during the first quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider’s stock worth $31,000 after buying an additional 213 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.
About Applied Materials
Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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