Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a research note issued to investors on Sunday, May 21st. They presently have a $47.00 price target on the manufacturing equipment provider’s stock, up from their previous price target of $37.00. Morgan Stanley’s price objective would suggest a potential upside of 8.39% from the stock’s current price.
Several other research analysts have also weighed in on the company. Stifel Nicolaus increased their target price on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Sunday, May 21st. Needham & Company LLC raised their target price on Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Sunday, May 21st. B. Riley restated a “buy” rating and set a $56.00 target price on shares of Applied Materials in a research note on Saturday, May 20th. Credit Suisse Group upgraded Applied Materials to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, May 19th. Finally, Deutsche Bank AG restated a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $44.75.
Applied Materials (NASDAQ:AMAT) traded down 2.10% during trading on Friday, hitting $43.36. The stock had a trading volume of 9,082,346 shares. The company has a market cap of $46.60 billion, a PE ratio of 17.93 and a beta of 1.81. The company’s 50 day moving average is $44.21 and its 200-day moving average is $38.00. Applied Materials has a 12 month low of $22.17 and a 12 month high of $47.86.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, topping the 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%. The business’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. On average, equities research analysts predict that Applied Materials will post $3.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.92%. Applied Materials’s payout ratio is 16.46%.
A number of large investors have recently made changes to their positions in AMAT. BlackRock Inc. raised its position in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after buying an additional 63,912,660 shares during the period. Egerton Capital UK LLP acquired a new position in Applied Materials during the first quarter valued at about $452,897,000. Norges Bank acquired a new position in Applied Materials during the fourth quarter valued at about $306,251,000. Capital Research Global Investors raised its position in Applied Materials by 126.0% in the third quarter. Capital Research Global Investors now owns 13,560,000 shares of the manufacturing equipment provider’s stock valued at $408,834,000 after buying an additional 7,560,000 shares during the period. Finally, FMR LLC raised its position in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
About Applied Materials
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