Applied Materials, Inc. (AMAT) Receives Overweight Rating from Morgan Stanley

Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a research report issued to clients and investors on Sunday, May 21st. They presently have a $47.00 target price on the manufacturing equipment provider’s stock, up from their previous target price of $37.00. Morgan Stanley’s target price suggests a potential upside of 8.39% from the company’s previous close.

Several other brokerages have also commented on AMAT. Stifel Nicolaus boosted their price target on Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Sunday, May 21st. Needham & Company LLC lifted their price objective on Applied Materials to $43.00 in a research report on Thursday, February 16th. Deutsche Bank AG reiterated a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. B. Riley reiterated a “buy” rating and issued a $38.00 price objective on shares of Applied Materials in a research report on Monday, February 13th. Finally, Argus reiterated a “buy” rating and issued a $43.00 price objective (up previously from $34.00) on shares of Applied Materials in a research report on Wednesday, February 22nd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus 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 2.10% during midday trading on Friday, reaching $43.36. The company’s stock had a trading volume of 8,853,736 shares. The company has a market capitalization of $46.60 billion, a price-to-earnings ratio of 17.93 and a beta of 1.81. Applied Materials has a 52-week low of $22.17 and a 52-week high of $47.86. The stock has a 50 day moving average price of $44.21 and a 200-day moving average price of $38.00.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. Equities research analysts expect that Applied Materials will post $3.08 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.92%. Applied Materials’s dividend payout ratio (DPR) is presently 16.46%.

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A number of hedge funds and other institutional investors have recently modified their holdings of AMAT. Independent Advisor Alliance acquired a new stake in Applied Materials during the fourth quarter valued at about $105,000. Reilly Financial Advisors LLC raised its stake in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock valued at $105,000 after buying an additional 1,180 shares in the last quarter. First Interstate Bank raised its stake in Applied Materials by 2.9% in the fourth quarter. First Interstate Bank now owns 3,296 shares of the manufacturing equipment provider’s stock valued at $106,000 after buying an additional 93 shares in the last quarter. Pinnacle Bank acquired a new stake in Applied Materials during the first quarter valued at about $113,000. Finally, State of Alaska Department of Revenue acquired a new stake in Applied Materials during the first quarter valued at about $114,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Company Profile

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