Applied Materials, Inc. (AMAT) Receives $63.08 Average PT from Brokerages

Shares of Applied Materials, Inc. (NASDAQ:AMAT) have been given a consensus recommendation of “Buy” by the twenty-seven ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $63.08.

A number of brokerages have recently commented on AMAT. ValuEngine raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $61.64 price objective on the stock in a research note on Monday, November 27th. BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Needham & Company LLC boosted their price objective on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a research note on Friday, November 17th. Finally, Nomura reissued a “buy” rating and issued a $65.00 price objective (up from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st.

In other Applied Materials news, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,833,698.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The stock was 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. Insiders have sold a total of 312,716 shares of company stock worth $16,218,746 over the last 90 days. Insiders own 0.35% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AMAT. Macquarie Group Ltd. boosted its position in shares of Applied Materials by 128.8% during the 2nd quarter. Macquarie Group Ltd. now owns 251,054 shares of the manufacturing equipment provider’s stock worth $10,372,000 after purchasing an additional 141,350 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Applied Materials in the 2nd quarter worth about $134,000. IHT Wealth Management LLC boosted its position in shares of Applied Materials by 67.8% in the 2nd quarter. IHT Wealth Management LLC now owns 3,344 shares of the manufacturing equipment provider’s stock worth $148,000 after buying an additional 1,351 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Applied Materials by 2.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 62,115 shares of the manufacturing equipment provider’s stock worth $2,566,000 after buying an additional 1,646 shares in the last quarter. Finally, Crosslink Capital Inc. purchased a new stake in shares of Applied Materials in the 2nd quarter worth about $12,456,000. Institutional investors own 79.30% of the company’s stock.

Shares of Applied Materials (NASDAQ:AMAT) traded up $2.33 during trading on Friday, hitting $48.08. 22,645,900 shares of the stock were exchanged, compared to its average volume of 13,638,690. The firm has a market cap of $51,730.00, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.72. Applied Materials has a fifty-two week low of $34.58 and a fifty-two week high of $60.89. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. equities analysts expect that Applied Materials will post 4.04 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. Applied Materials’s payout ratio is currently 12.62%.

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Applied Materials Company Profile

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.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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