Applied Materials, Inc. (AMAT) Price Target Increased to $70.00 by Analysts at J P Morgan Chase & Co

Applied Materials, Inc. (NASDAQ:AMAT) had its price target boosted by J P Morgan Chase & Co to $70.00 in a report issued on Friday. J P Morgan Chase & Co currently has an overweight rating on the manufacturing equipment provider’s stock.

Other research analysts have also issued research reports about the company. Vetr upgraded Applied Materials from a buy rating to a strong-buy rating and set a $48.16 price target for the company in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of Applied Materials from a buy rating to a hold rating in a research note on Monday, August 14th. Stifel Nicolaus reissued a buy rating and issued a $61.00 price objective (up previously from $55.00) on shares of Applied Materials in a research note on Friday, August 18th. Credit Suisse Group raised their price objective on shares of Applied Materials from $5.00 to $62.00 and gave the stock an outperform rating in a research note on Friday, August 18th. They noted that the move was a valuation call. Finally, B. Riley reissued a buy rating and issued a $61.00 price objective on shares of Applied Materials in a research note on Saturday, August 19th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Applied Materials has an average rating of Buy and an average target price of $60.35.

Applied Materials (AMAT) opened at $57.62 on Friday. The company has a market capitalization of $61,450.00, a PE ratio of 17.38, a P/E/G ratio of 0.87 and a beta of 1.85. Applied Materials has a 12-month low of $29.85 and a 12-month high of $60.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. analysts expect that Applied Materials will post 3.86 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. Applied Materials’s dividend payout ratio is presently 12.62%.

In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Summit Financial Wealth Advisors LLC raised its position in shares of Applied Materials by 0.3% in the second quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock worth $259,000 after acquiring an additional 19 shares during the period. Adirondack Trust Co. raised its position in shares of Applied Materials by 1.1% during the 2nd quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock worth $151,000 after purchasing an additional 40 shares during the last quarter. Affinity Wealth Management raised its position in shares of Applied Materials by 0.8% during the 2nd quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock worth $264,000 after purchasing an additional 48 shares during the last quarter. Wunderlich Capital Managemnt raised its position in shares of Applied Materials by 2.9% during the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after purchasing an additional 87 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its position in shares of Applied Materials by 0.5% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock worth $864,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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