Brokerages Set Applied Materials, Inc. (AMAT) Price Target at $50.80

Shares of Applied Materials, Inc. (NASDAQ:AMAT) have received an average recommendation of “Buy” from the twenty-eight brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $50.80.

Several equities analysts have issued reports on the company. Stifel Nicolaus dropped their price target on Applied Materials from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, February 11th. Zacks Investment Research lowered Applied Materials from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. Argus reissued a “buy” rating on shares of Applied Materials in a research note on Tuesday, February 19th. Finally, DZ Bank lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 15th.

In related news, SVP Steve G. Ghanayem sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total transaction of $1,067,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Omkaram Nalamasu sold 143,255 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $40.73, for a total value of $5,834,776.15. The disclosure for this sale can be found here. Insiders have sold 170,255 shares of company stock worth $6,987,176 over the last ninety days. 0.44% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in AMAT. Moody National Bank Trust Division bought a new stake in Applied Materials during the fourth quarter worth $25,000. Sontag Advisory LLC bought a new stake in Applied Materials during the fourth quarter worth $30,000. Bruderman Asset Management LLC bought a new stake in Applied Materials during the fourth quarter worth $31,000. Lenox Wealth Advisors LLC grew its holdings in Applied Materials by 73.7% during the first quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock worth $31,000 after buying an additional 331 shares in the last quarter. Finally, Mondrian Capital Management LLC bought a new stake in Applied Materials during the fourth quarter worth $33,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

AMAT traded up $0.17 during trading on Wednesday, hitting $43.89. The company’s stock had a trading volume of 8,111,614 shares, compared to its average volume of 10,610,136. Applied Materials has a twelve month low of $28.79 and a twelve month high of $56.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.74 and a current ratio of 2.72. The firm has a market cap of $41.51 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.64.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Applied Materials had a return on equity of 58.28% and a net margin of 23.50%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. The company’s revenue was down 10.7% compared to the same quarter last year. Research analysts predict that Applied Materials will post 2.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s dividend payout ratio is presently 17.98%.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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