Royal Bank of Canada Reiterates “Sector Perform” Rating for Applied Materials, Inc. (AMAT)

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.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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%.

TRADEMARK VIOLATION NOTICE: “Royal Bank of Canada Reiterates “Sector Perform” Rating for Applied Materials, Inc. (AMAT)” was first published by Markets Daily and is the property of of Markets Daily. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.themarketsdaily.com/2017/06/16/royal-bank-of-canada-reaffirms-sector-perform-rating-for-applied-materials-inc-amat-updated-updated.html.

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

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply