Royal Bank Of Canada Reaffirms “Buy” Rating for Applied Materials, Inc. (AMAT)

Royal Bank Of Canada reissued their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a research report sent to investors on Friday.

AMAT has been the topic of several other reports. Credit Suisse Group restated a buy rating on shares of Applied Materials in a report on Tuesday, August 29th. Goldman Sachs Group, Inc. (The) upgraded shares of Applied Materials from a neutral rating to a buy rating and boosted their price target for the stock from $49.00 to $52.00 in a report on Wednesday, September 13th. Morgan Stanley restated an overweight rating on shares of Applied Materials in a report on Thursday, September 14th. Vetr upgraded shares of Applied Materials from a hold rating to a buy rating and set a $48.70 price target on the stock in a report on Monday, July 31st. Finally, Nomura boosted their price target on shares of Applied Materials from $47.00 to $50.00 and gave the stock a buy rating in a report on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $56.64.

Shares of Applied Materials (AMAT) opened at 56.69 on Friday. The firm has a market capitalization of $60.46 billion, a P/E ratio of 20.15 and a beta of 1.86. Applied Materials has a 52 week low of $28.02 and a 52 week high of $56.82. The company has a 50-day moving average of $51.14 and a 200 day moving average of $45.54.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities research analysts anticipate that Applied Materials will post $3.21 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.

In related news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was 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. Corporate insiders own 0.31% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AMAT. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Applied Materials in the 3rd quarter worth $105,000. MPS Loria Financial Planners LLC bought a new position in shares of Applied Materials in the 2nd quarter worth $109,000. Wunderlich Capital Managemnt increased its holdings in shares of Applied Materials by 2.9% in the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Applied Materials by 145.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after buying an additional 1,817 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Applied Materials in the 2nd quarter worth $134,000. 79.32% of the stock is currently owned by institutional investors and hedge funds.

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