Applied Materials (AMAT) PT Raised to $49.00

Applied Materials (NASDAQ:AMAT) had its price target hoisted by UBS Group from $45.00 to $49.00 in a research report released on Friday, BenzingaRatingsTable reports. They currently have a neutral rating on the manufacturing equipment provider’s stock.

A number of other research analysts have also weighed in on AMAT. Royal Bank of Canada raised shares of Applied Materials from a sector perform rating to an outperform rating and raised their target price for the stock from $38.00 to $45.00 in a research note on Tuesday, January 29th. Stifel Nicolaus decreased their target price on shares of Applied Materials from $63.00 to $53.00 and set a buy rating on the stock in a research note on Monday, February 11th. BidaskClub raised shares of Applied Materials from a hold rating to a buy rating in a research note on Saturday, February 9th. DZ Bank lowered shares of Applied Materials from a buy rating to a hold rating in a research note on Friday, February 15th. Finally, Argus reissued a buy rating on shares of Applied Materials in a research note on Tuesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $52.95.

AMAT stock opened at $40.35 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.74 and a current ratio of 2.72. Applied Materials has a 12-month low of $28.79 and a 12-month high of $53.23. The stock has a market capitalization of $40.54 billion, a P/E ratio of 9.07, a PEG ratio of 1.79 and a beta of 1.66.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. Applied Materials had a return on equity of 49.38% and a net margin of 22.10%. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm posted $1.22 EPS. Applied Materials’s revenue was down 22.7% compared to the same quarter last year. As a group, analysts expect that Applied Materials will post 2.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be given a $0.21 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, May 22nd. This represents a $0.84 dividend on an annualized basis and a yield of 2.08%. Applied Materials’s payout ratio is presently 17.98%.

In other Applied Materials news, insider Omkaram Nalamasu sold 143,255 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $42.45, for a total value of $84,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 170,255 shares of company stock worth $6,987,176. 0.44% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allstate Corp raised its position in Applied Materials by 23.3% in the first quarter. Allstate Corp now owns 51,131 shares of the manufacturing equipment provider’s stock valued at $2,028,000 after purchasing an additional 9,678 shares during the period. First Dallas Securities Inc. grew its stake in shares of Applied Materials by 6.7% in the first quarter. First Dallas Securities Inc. now owns 13,450 shares of the manufacturing equipment provider’s stock worth $533,000 after acquiring an additional 850 shares in the last quarter. Front Row Advisors LLC grew its stake in shares of Applied Materials by 283.6% in the first quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 607 shares in the last quarter. Horizon Investments LLC acquired a new position in shares of Applied Materials in the first quarter worth $230,000. Finally, FMR LLC grew its stake in shares of Applied Materials by 16.3% in the first quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock worth $1,032,245,000 after acquiring an additional 3,656,960 shares in the last quarter. 78.26% of the stock is currently owned by institutional investors.

About Applied Materials

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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