B. Riley reaffirmed their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a research note published on Monday. B. Riley currently has a $63.00 price target on the manufacturing equipment provider’s stock.
A number of other research analysts have also recently commented on the company. Royal Bank Of Canada reissued a buy rating on shares of Applied Materials in a research note on Friday, October 27th. Credit Suisse Group reissued a buy rating on shares of Applied Materials in a research note on Tuesday, August 29th. Deutsche Bank AG reissued a buy rating and issued a $58.00 target price on shares of Applied Materials in a research note on Thursday, October 12th. Vetr raised Applied Materials from a hold rating to a buy rating and set a $48.70 target price on the stock in a research note on Monday, July 31st. Finally, The Goldman Sachs Group, Inc. raised Applied Materials from a neutral rating to a buy rating and increased their target price for the company from $49.00 to $52.00 in a research note on Wednesday, September 13th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $59.35.
Shares of Applied Materials (NASDAQ AMAT) traded down $0.43 during mid-day trading on Monday, hitting $57.42. The company had a trading volume of 16,153,247 shares, compared to its average volume of 9,786,178. The company has a quick ratio of 2.25, a current ratio of 2.91 and a debt-to-equity ratio of 0.61. Applied Materials has a one year low of $29.85 and a one year high of $58.00. The stock has a market capitalization of $60,880.00, a P/E ratio of 18.72, a PEG ratio of 0.88 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. sell-side analysts predict that Applied Materials will post 3.22 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a $0.10 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.70%. Applied Materials’s payout ratio is presently 12.62%.
In other news, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander Karsner sold 22,762 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Applied Materials by 390.4% in the second quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock worth $472,835,000 after buying an additional 9,112,328 shares in the last quarter. Swedbank acquired a new position in shares of Applied Materials in the second quarter valued at approximately $135,363,000. Egerton Capital UK LLP grew its holdings in shares of Applied Materials by 23.2% in the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after purchasing an additional 3,184,994 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Applied Materials by 14.8% in the second quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after purchasing an additional 2,284,836 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Applied Materials by 108.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,690,615 shares of the manufacturing equipment provider’s stock worth $152,459,000 after acquiring an additional 1,922,233 shares in the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.
Applied Materials Company Profile
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