Applied Materials (NASDAQ:AMAT) Upgraded at UBS Group

UBS Group upgraded shares of Applied Materials (NASDAQ:AMAT) from a neutral rating to a positive rating in a research report sent to investors on Tuesday, January 16th, The Fly reports.

A number of other equities analysts also recently weighed in on AMAT. B. Riley upped their price target on shares of Applied Materials from $61.00 to $63.00 and gave the stock a buy rating in a research note on Monday, September 25th. Instinet reaffirmed a buy rating and issued a $55.00 price target (up from $50.00) on shares of Applied Materials in a research note on Saturday, September 30th. Craig Hallum reaffirmed a buy rating and issued a $76.00 price target (up from $60.00) on shares of Applied Materials in a research note on Thursday, September 28th. Stifel Nicolaus reissued a buy rating on shares of Applied Materials in a research report on Sunday, October 1st. Finally, Berenberg Bank reissued a buy rating and set a $52.00 target price on shares of Applied Materials in a research report on Thursday, September 28th. One investment analyst has rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $62.56.

Shares of Applied Materials (NASDAQ AMAT) traded up $2.33 during trading hours on Tuesday, reaching $48.08. 22,650,000 shares of the company’s stock traded hands, compared to its average volume of 13,260,000. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. Applied Materials has a 52 week low of $34.58 and a 52 week high of $60.89. The firm has a market cap of $50,650.00, a P/E ratio of 15.17, a P/E/G ratio of 0.94 and a beta of 1.72.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the business earned $0.66 EPS. The company’s revenue was up 20.4% on a year-over-year basis. analysts expect that Applied Materials will post 4.04 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 21st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, February 20th. Applied Materials’s payout ratio is presently 12.62%.

In related news, VP Ali Salehpour sold 125,125 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $51.47, for a total value of $6,440,183.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen R. Forrest sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total transaction of $214,680.00. The disclosure for this sale can be found here. Insiders sold 312,716 shares of company stock valued at $16,218,746 in the last three months. Company insiders own 0.35% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Timber Hill LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $549,000. Alpha Cubed Investments LLC increased its holdings in shares of Applied Materials by 266.6% in the fourth quarter. Alpha Cubed Investments LLC now owns 34,286 shares of the manufacturing equipment provider’s stock valued at $1,753,000 after purchasing an additional 24,933 shares in the last quarter. Dynamic Advisors Solutions LLC acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $363,000. Baird Financial Group Inc. increased its holdings in shares of Applied Materials by 39.9% in the fourth quarter. Baird Financial Group Inc. now owns 107,528 shares of the manufacturing equipment provider’s stock valued at $5,497,000 after purchasing an additional 30,684 shares in the last quarter. Finally, Thomas White International Ltd. acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $422,000. 80.07% of the stock is owned by institutional investors.

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About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

The Fly

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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