Cantor Fitzgerald Boosts Applied Materials (NASDAQ:AMAT) Price Target to $290.00

Applied Materials (NASDAQ:AMAT) had its target price raised by Cantor Fitzgerald from $260.00 to $290.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the manufacturing equipment provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Evercore ISI started coverage on shares of Applied Materials in a report on Tuesday, April 16th. They set an outperform rating and a $260.00 price objective for the company. TD Cowen lifted their price target on shares of Applied Materials from $245.00 to $250.00 and gave the company a buy rating in a research note on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on shares of Applied Materials from $230.00 to $240.00 and gave the company an overweight rating in a research note on Friday, May 17th. Needham & Company LLC reaffirmed a buy rating and issued a $240.00 price target on shares of Applied Materials in a research note on Friday, May 17th. Finally, Jefferies Financial Group lowered shares of Applied Materials from a buy rating to a hold rating and cut their price target for the company from $215.00 to $210.00 in a research note on Monday, May 13th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $224.84.

Applied Materials Stock Down 1.1 %

Shares of NASDAQ AMAT opened at $217.65 on Tuesday. The stock has a market cap of $180.21 billion, a P/E ratio of 25.02, a P/E/G ratio of 3.22 and a beta of 1.56. The firm has a 50 day moving average price of $229.51 and a 200 day moving average price of $203.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. Applied Materials has a 52-week low of $129.21 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 earnings per share. Analysts expect that Applied Materials will post 8.31 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.74%. Applied Materials’s dividend payout ratio is currently 18.39%.

Insider Activity at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the transaction, the director now directly owns 49,185 shares in the company, valued at $11,639,630.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the transaction, the chief financial officer now directly owns 108,356 shares in the company, valued at $24,091,873.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,827 shares of company stock worth $21,382,560. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

Several institutional investors and hedge funds have recently bought and sold shares of AMAT. Norges Bank bought a new stake in Applied Materials during the fourth quarter worth about $1,514,814,000. Swedbank AB bought a new stake in Applied Materials during the first quarter worth about $773,611,000. Wellington Management Group LLP lifted its position in Applied Materials by 3,940.1% during the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after purchasing an additional 2,121,912 shares during the period. Janus Henderson Group PLC lifted its position in Applied Materials by 126.4% during the first quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after purchasing an additional 1,259,111 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Applied Materials by 123.5% during the first quarter. Assenagon Asset Management S.A. now owns 1,976,914 shares of the manufacturing equipment provider’s stock worth $407,699,000 after purchasing an additional 1,092,429 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.