Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a note issued to investors on Friday, May 19th. They presently have a $46.00 price objective on the manufacturing equipment provider’s stock, up from their previous price objective of $35.00. Royal Bank of Canada’s target price would indicate a potential upside of 6.70% from the company’s current price.
A number of other equities analysts have also recently commented on AMAT. Summit Redstone reissued a “buy” rating on shares of Applied Materials in a report on Saturday, January 21st. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a report on Wednesday, January 25th. B. Riley reaffirmed a “buy” rating and issued a $38.00 price target on shares of Applied Materials in a report on Monday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Applied Materials in a research report on Monday, February 13th. Finally, Cowen and Company increased their price objective on Applied Materials from $33.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, February 13th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.75.
Shares of Applied Materials (NASDAQ:AMAT) traded down 0.12% during mid-day trading on Friday, reaching $43.11. The company had a trading volume of 10,775,074 shares. The stock has a 50 day moving average of $44.11 and a 200-day moving average of $37.81. Applied Materials has a 52 week low of $22.17 and a 52 week high of $47.86. The company has a market capitalization of $46.33 billion, a price-to-earnings ratio of 17.83 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. Applied Materials’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, analysts expect that Applied Materials will post $3.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is 16.46%.
Several large investors have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of Applied Materials during the third quarter valued at about $256,000. JBF Capital Inc. increased its position in shares of Applied Materials by 104.0% in the third quarter. JBF Capital Inc. now owns 204,030 shares of the manufacturing equipment provider’s stock valued at $6,152,000 after buying an additional 104,030 shares in the last quarter. Affinity Investment Advisors LLC increased its position in shares of Applied Materials by 10.4% in the third quarter. Affinity Investment Advisors LLC now owns 290,918 shares of the manufacturing equipment provider’s stock valued at $8,771,000 after buying an additional 27,468 shares in the last quarter. Ifrah Financial Services Inc. bought a new position in shares of Applied Materials during the third quarter valued at about $557,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Applied Materials by 867.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,436,582 shares of the manufacturing equipment provider’s stock valued at $103,611,000 after buying an additional 3,081,415 shares in the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.
About Applied Materials
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