Vetr upgraded shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a strong-buy rating in a research note published on Monday morning. Vetr currently has $66.16 price objective on the manufacturing equipment provider’s stock.
Several other analysts have also recently commented on the stock. Susquehanna Bancshares raised shares of Applied Materials from a neutral rating to a positive rating and lifted their target price for the stock from $60.00 to $72.00 in a research note on Tuesday, January 16th. B. Riley reaffirmed a buy rating and issued a $71.00 target price on shares of Applied Materials in a research note on Tuesday, January 16th. UBS raised shares of Applied Materials from a neutral rating to a positive rating in a research note on Tuesday, January 16th. Wells Fargo started coverage on shares of Applied Materials in a research note on Tuesday, December 5th. They issued an outperform rating and a $65.00 target price for the company. Finally, Zacks Investment Research raised shares of Applied Materials from a hold rating to a buy rating and set a $64.00 target price for the company in a research note on Tuesday, November 28th. Twenty-five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Applied Materials currently has a consensus rating of Buy and an average price target of $64.41.
Applied Materials stock opened at $60.78 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. Applied Materials has a 12 month low of $37.41 and a 12 month high of $62.40. The firm has a market cap of $62,232.19, a P/E ratio of 16.27, a PEG ratio of 1.12 and a beta of 1.58.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be issued a dividend of $0.20 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. Applied Materials’s payout ratio is presently 15.09%.
Applied Materials declared that its board has authorized a stock buyback plan on Wednesday, February 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, Director Stephen R. Forrest sold 4,000 shares of Applied Materials stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction on Monday, March 12th. The shares were sold at an average price of $61.47, for a total transaction of $922,050.00. Following the transaction, the director now owns 76,967 shares in the company, valued at approximately $4,731,161.49. The disclosure for this sale can be found here. Insiders have sold a total of 322,716 shares of company stock worth $16,850,796 in the last 90 days. Company insiders own 0.35% of the company’s stock.
Several large investors have recently bought and sold shares of AMAT. Nisa Investment Advisors LLC lifted its holdings in Applied Materials by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock worth $23,607,000 after buying an additional 38,960 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Applied Materials by 1.1% in the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock worth $318,778,000 after buying an additional 64,186 shares in the last quarter. Elite Wealth Management Inc. acquired a new position in Applied Materials in the 4th quarter worth $635,000. Janus Henderson Group PLC lifted its holdings in Applied Materials by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after buying an additional 650,755 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Applied Materials by 25.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock worth $2,547,000 after buying an additional 10,200 shares in the last quarter. Institutional investors and hedge funds own 79.28% of the company’s stock.
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Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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