ValuEngine upgraded shares of Applied Materials (NASDAQ:AMAT) from a hold rating to a buy rating in a research report report published on Friday.
AMAT has been the subject of a number of other research reports. Wells Fargo & Co started coverage on shares of Applied Materials in a research report on Tuesday, December 5th. They issued an outperform rating and a $65.00 target price for the company. UBS Group upgraded shares of Applied Materials from a neutral rating to a positive rating in a research report on Tuesday, January 16th. Vetr lowered shares of Applied Materials from a strong-buy rating to a buy rating and set a $63.00 price objective for the company. in a research report on Wednesday, January 17th. Zacks Investment Research upgraded shares of Applied Materials from a hold rating to a strong-buy rating and set a $59.00 price objective for the company in a research report on Friday, December 15th. Finally, B. Riley restated a buy rating and set a $71.00 price objective on shares of Applied Materials in a research report on Tuesday, January 16th. One analyst has rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $62.56.
Applied Materials (AMAT) opened at $48.31 on Friday. The stock has a market cap of $50,900.00, a PE ratio of 15.24, a P/E/G ratio of 0.99 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 has a 12-month low of $34.58 and a 12-month high of $60.89.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Tuesday, February 20th. Applied Materials’s dividend payout ratio (DPR) is 12.62%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of the stock in a transaction that occurred on 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 sold 312,716 shares of company stock valued at $16,218,746 over the last three months. 0.35% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mathes Company Inc. purchased a new stake in shares of Applied Materials in the third quarter worth approximately $1,613,000. Nisa Investment Advisors LLC raised its position in Applied Materials by 9.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock valued at $23,607,000 after acquiring an additional 38,960 shares in the last quarter. Prudential Financial Inc. raised its position in Applied Materials by 1.1% during the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after acquiring an additional 64,186 shares in the last quarter. Janus Henderson Group PLC raised its position in Applied Materials by 5.7% during the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after acquiring an additional 650,755 shares in the last quarter. Finally, Paragon Capital Management Ltd bought a new position in Applied Materials during the third quarter valued at approximately $267,000. 80.07% of the stock is owned by institutional investors and hedge funds.
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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