Barclays Raises Applied Materials (NASDAQ:AMAT) Price Target to $165.00

Applied Materials (NASDAQ:AMAT) had its price objective boosted by Barclays from $150.00 to $165.00 in a research report report published on Wednesday morning, Price Targets.com reports. Barclays currently has an equal weight rating on the manufacturing equipment provider’s stock.

Other equities analysts have also issued research reports about the company. Citigroup raised their price target on Applied Materials from $160.00 to $175.00 and gave the company a buy rating in a research note on Wednesday, December 1st. DA Davidson raised their price target on Applied Materials from $165.00 to $175.00 and gave the company a buy rating in a research note on Friday, November 19th. Jefferies Financial Group assumed coverage on Applied Materials in a research note on Wednesday, January 5th. They set a buy rating and a $197.00 price target on the stock. New Street Research lowered Applied Materials from a buy rating to a neutral rating and cut their price target for the company from $162.38 to $140.00 in a research note on Tuesday, September 28th. Finally, Morgan Stanley raised their price target on Applied Materials from $150.00 to $160.00 and gave the company an equal weight rating in a research note on Wednesday, December 15th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials presently has an average rating of Buy and an average price target of $166.00.

NASDAQ:AMAT opened at $167.00 on Wednesday. Applied Materials has a twelve month low of $96.07 and a twelve month high of $167.06. The company has a market cap of $148.38 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. The stock has a fifty day simple moving average of $153.22 and a 200-day simple moving average of $141.59. The company has a current ratio of 2.54, a quick ratio of 1.86 and a debt-to-equity ratio of 0.45.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.01). Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter last year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. As a group, equities research analysts predict that Applied Materials will post 8.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 16th. Investors of record on Wednesday, February 23rd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Tuesday, February 22nd. Applied Materials’s dividend payout ratio (DPR) is 14.98%.

In other Applied Materials news, CEO Gary E. Dickerson sold 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $152.79, for a total value of $45,837,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. lifted its holdings in Applied Materials by 10.1% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 742 shares of the manufacturing equipment provider’s stock valued at $117,000 after acquiring an additional 68 shares during the period. TPG Financial Advisors LLC lifted its holdings in Applied Materials by 39.5% in the fourth quarter. TPG Financial Advisors LLC now owns 3,306 shares of the manufacturing equipment provider’s stock valued at $520,000 after acquiring an additional 936 shares during the period. Five Oceans Advisors acquired a new position in Applied Materials in the fourth quarter valued at approximately $231,000. Centerpoint Advisors LLC lifted its holdings in Applied Materials by 2.5% in the fourth quarter. Centerpoint Advisors LLC now owns 6,150 shares of the manufacturing equipment provider’s stock valued at $968,000 after acquiring an additional 150 shares during the period. Finally, Intermede Investment Partners Ltd acquired a new position in Applied Materials in the fourth quarter valued at approximately $142,021,000. 77.06% of the stock is owned by institutional investors.

About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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