Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reiterated by Bank of America Corp in a report released on Wednesday. They presently have a $54.00 target price on the manufacturing equipment provider’s stock, up from their prior target price of $45.00. Bank of America Corp’s price target suggests a potential upside of 22.98% from the company’s previous close.
AMAT has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of Applied Materials in a research report on Friday, February 24th. Instinet upped their price target on shares of Applied Materials from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, February 17th. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 price target for the company in a research report on Tuesday, April 11th. Finally, Royal Bank of Canada upped their price target on shares of Applied Materials from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 16th. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Applied Materials has a consensus rating of “Buy” and an average target price of $39.45.
Applied Materials (NASDAQ:AMAT) opened at 43.91 on Wednesday. The stock has a market cap of $47.42 billion, a PE ratio of 22.59 and a beta of 1.81. The firm has a 50 day moving average of $40.59 and a 200-day moving average of $35.57. Applied Materials has a 12-month low of $21.70 and a 12-month high of $45.08. Applied Materials also was the target of some unusual options trading activity on Thursday. Stock investors purchased 19,944 put options on the stock. This represents an increase of approximately 555% compared to the average daily volume of 3,043 put options.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. On average, analysts expect that Applied Materials will post $2.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 25th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s payout ratio is 25.64%.
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Large investors have recently modified their holdings of the stock. Bank of Nova Scotia boosted its stake in shares of Applied Materials by 919.1% in the first quarter. Bank of Nova Scotia now owns 247,204 shares of the manufacturing equipment provider’s stock worth $9,617,000 after buying an additional 222,946 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Applied Materials during the first quarter worth approximately $219,000. Hutchens Investment Management Inc acquired a new stake in shares of Applied Materials during the first quarter worth approximately $1,291,000. Bragg Financial Advisors Inc boosted its stake in shares of Applied Materials by 4.9% in the first quarter. Bragg Financial Advisors Inc now owns 136,624 shares of the manufacturing equipment provider’s stock worth $5,315,000 after buying an additional 6,438 shares during the last quarter. Finally, Janus Capital Management LLC boosted its stake in shares of Applied Materials by 28.9% in the first quarter. Janus Capital Management LLC now owns 8,534,514 shares of the manufacturing equipment provider’s stock worth $331,993,000 after buying an additional 1,912,105 shares during the last quarter. 82.52% of the stock is currently owned by hedge funds and other institutional investors.
Applied Materials Company Profile
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