Applied Materials (NASDAQ:AMAT) had its price objective upped by Credit Suisse Group from $72.00 to $74.00 in a research note released on Thursday. The firm currently has an outperform rating on the manufacturing equipment provider’s stock.
A number of other equities research analysts have also recently weighed in on the company. Deutsche Bank increased their price target on Applied Materials from $65.00 to $70.00 and gave the company a buy rating in a research note on Thursday. Stifel Nicolaus increased their price target on Applied Materials from $66.00 to $71.00 and gave the company a buy rating in a research note on Thursday. KeyCorp increased their price objective on Applied Materials from $67.00 to $74.00 and gave the stock an overweight rating in a research report on Thursday. Zacks Investment Research cut Applied Materials from a buy rating to a hold rating in a research report on Tuesday, February 13th. Finally, ValuEngine upgraded Applied Materials from a hold rating to a buy rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $63.84.
Shares of Applied Materials (NASDAQ AMAT) opened at $55.03 on Thursday. Applied Materials has a 12 month low of $34.72 and a 12 month high of $60.89. The company has a quick ratio of 2.43, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $57,980.00, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.04 and a beta of 1.72.
Applied Materials declared that its Board of Directors has approved a share buyback program on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio (DPR) is presently 11.14%.
In related news, VP Ali Salehpour sold 125,125 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Insiders sold 312,716 shares of company stock worth $16,218,746 in the last 90 days. 0.35% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in AMAT. LeJeune Puetz Investment Counsel LLC acquired a new stake in Applied Materials in the third quarter valued at about $105,000. Financial Gravity Companies Inc. acquired a new stake in Applied Materials in the fourth quarter valued at about $110,000. Risk Paradigm Group LLC acquired a new stake in Applied Materials in the fourth quarter valued at about $110,000. Cerebellum GP LLC acquired a new stake in Applied Materials in the fourth quarter valued at about $122,000. Finally, First Personal Financial Services boosted its stake in Applied Materials by 281.5% in the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after buying an additional 1,900 shares in the last quarter. 79.30% of the stock is currently owned by institutional investors and hedge funds.
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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.
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