Applied Materials, Inc. (AMAT) Stock Rating Reaffirmed by Citigroup Inc.

Citigroup Inc. reiterated their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a report issued on Thursday morning, The Fly reports. Citigroup Inc. currently has a $58.00 price objective on the manufacturing equipment provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI reiterated an outperform rating and issued a $65.00 price target (up from $56.00) on shares of Applied Materials in a research report on Saturday, September 30th. Instinet reiterated a buy rating and issued a $55.00 price target (up from $50.00) on shares of Applied Materials in a research report on Saturday, September 30th. B. Riley reiterated a buy rating and issued a $63.00 price target on shares of Applied Materials in a research report on Saturday, September 30th. Stifel Nicolaus reiterated a buy rating on shares of Applied Materials in a research report on Sunday, October 1st. Finally, KeyCorp reiterated a buy rating and issued a $59.00 price target on shares of Applied Materials in a research report on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Applied Materials presently has a consensus rating of Buy and an average target price of $56.64.

Applied Materials (NASDAQ:AMAT) opened at 53.94 on Thursday. The stock has a 50 day moving average of $48.27 and a 200-day moving average of $44.41. The stock has a market cap of $57.53 billion, a P/E ratio of 19.18 and a beta of 1.86. Applied Materials has a one year low of $27.74 and a one year high of $54.13.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a net margin of 24.71% and a return on equity of 43.83%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. Analysts anticipate that Applied Materials will post $3.21 EPS for the current year.

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The firm also recently disclosed 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 of this dividend is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.74%. Applied Materials’s dividend payout ratio is 14.18%.

In other news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its position in shares of Applied Materials by 2.7% in the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock valued at $3,632,000 after acquiring an additional 2,279 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Applied Materials in the second quarter valued at approximately $2,082,000. Bridgewater Associates LP bought a new stake in shares of Applied Materials in the second quarter valued at approximately $8,834,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Applied Materials in the first quarter valued at approximately $113,715,000. Finally, BlackRock Inc. boosted its position in shares of Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after acquiring an additional 63,912,660 shares during the period. 79.45% of the stock is owned by institutional investors.

Applied Materials Company Profile

The Fly

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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