Applied Materials (NASDAQ:AMAT) had its price target decreased by Wells Fargo & Co from $65.00 to $60.00 in a research report report published on Friday morning, The Fly reports. Wells Fargo & Co currently has an outperform rating on the manufacturing equipment provider’s stock.
Several other brokerages have also issued reports on AMAT. Citigroup raised their target price on shares of Applied Materials from $70.00 to $78.00 and gave the company a buy rating in a research note on Monday, May 14th. Cowen began coverage on shares of Applied Materials in a research note on Monday, May 14th. They issued a market perform rating and a $60.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Applied Materials from $71.00 to $75.00 and gave the company a buy rating in a research note on Friday, May 18th. B. Riley reduced their target price on shares of Applied Materials from $77.00 to $70.00 and set a buy rating on the stock in a research note on Friday, May 18th. Finally, Goldman Sachs Group downgraded shares of Applied Materials from a buy rating to a neutral rating in a research report on Friday, May 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $61.64.
Shares of NASDAQ AMAT opened at $43.77 on Friday. The stock has a market capitalization of $48.52 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.80 and a beta of 1.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.60. Applied Materials has a 1 year low of $42.62 and a 1 year high of $62.40.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.42 billion. Applied Materials had a net margin of 19.24% and a return on equity of 51.65%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. analysts expect that Applied Materials will post 4.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 23rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 22nd. This represents a $0.80 annualized dividend and a yield of 1.83%. Applied Materials’s dividend payout ratio (DPR) is currently 24.62%.
Hedge funds have recently made changes to their positions in the business. Shine Investment Advisory Services Inc. raised its holdings in Applied Materials by 368.3% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock worth $114,000 after buying an additional 1,617 shares during the period. Kaizen Advisory LLC raised its holdings in Applied Materials by 147.4% during the 2nd quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock worth $118,000 after buying an additional 1,526 shares during the period. Rational Advisors LLC raised its holdings in Applied Materials by 5,102.0% during the 2nd quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock worth $120,000 after buying an additional 2,551 shares during the period. Optimum Investment Advisors acquired a new stake in Applied Materials during the 1st quarter worth approximately $147,000. Finally, Private Capital Group LLC raised its holdings in Applied Materials by 728.9% during the 1st quarter. Private Capital Group LLC now owns 3,009 shares of the manufacturing equipment provider’s stock worth $167,000 after buying an additional 2,646 shares during the period. Hedge funds and other institutional investors own 78.36% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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