Applied Materials’ (AMAT) Buy Rating Reaffirmed at Instinet

Instinet restated their buy rating on shares of Applied Materials, Inc. (NASDAQ:AMAT) in a research report released on Sunday, May 21st. The brokerage currently has a $47.00 price objective on the manufacturing equipment provider’s stock, up from their prior price objective of $40.00.

A number of other brokerages also recently commented on AMAT. Stifel Nicolaus lifted their price objective 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 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 set a $48.00 price objective (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Argus reiterated a buy rating and set a $43.00 price objective (up previously from $34.00) on shares of Applied Materials in a research report on Wednesday, February 22nd. Finally, B. Riley reiterated a buy rating and set a $38.00 price objective on shares of Applied Materials in a research report on Monday, February 13th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Applied Materials has a consensus rating of Buy and an average price target of $44.75.

Shares of Applied Materials (NASDAQ:AMAT) traded down 2.10% during mid-day trading on Friday, hitting $43.36. The stock had a trading volume of 9,082,346 shares. The stock has a market cap of $46.60 billion, a P/E ratio of 17.93 and a beta of 1.81. Applied Materials has a one year low of $22.17 and a one year high of $47.86. The firm has a 50 day moving average of $44.21 and a 200-day moving average of $38.00.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.03. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. Equities research analysts expect that Applied Materials will post $3.08 earnings per share for the current fiscal year.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Independent Advisor Alliance acquired a new position in Applied Materials during the fourth quarter valued at about $105,000. Reilly Financial Advisors LLC boosted its position 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 during the last quarter. First Interstate Bank boosted its position 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 during the last quarter. Pinnacle Bank acquired a new position in Applied Materials during the first quarter valued at about $113,000. Finally, State of Alaska Department of Revenue acquired a new position in Applied Materials during the first quarter valued at about $114,000. Institutional investors own 80.46% of the company’s stock.

About Applied Materials

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