Applied Materials (NASDAQ:AMAT) had its price target lifted by KeyCorp from $67.00 to $74.00 in a report issued on Thursday. They currently have an overweight rating on the manufacturing equipment provider’s stock. KeyCorp also issued estimates for Applied Materials’ Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.13 EPS, Q4 2018 earnings at $1.06 EPS, FY2018 earnings at $4.38 EPS, Q1 2019 earnings at $1.01 EPS, Q2 2019 earnings at $1.11 EPS, Q3 2019 earnings at $1.20 EPS, Q4 2019 earnings at $1.20 EPS and FY2019 earnings at $4.52 EPS.
Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank upped their price objective on shares of Applied Materials from $58.00 to $65.00 and gave the stock a buy rating in a report on Friday, November 17th. Bank of America upped their price objective on shares of Applied Materials from $65.00 to $76.00 and gave the stock a buy rating in a report on Wednesday, November 15th. B. Riley restated a buy rating and issued a $63.00 price objective on shares of Applied Materials in a report on Monday, November 13th. Royal Bank of Canada restated a buy rating on shares of Applied Materials in a report on Friday, October 27th. Finally, Nomura restated a buy rating and issued a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials currently has an average rating of Buy and an average target price of $63.84.
Applied Materials (AMAT) opened at $55.03 on Thursday. Applied Materials has a 52-week low of $34.72 and a 52-week high of $60.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.43 and a current ratio of 2.96. The stock has a market cap of $57,980.00, a PE ratio of 15.33, a P/E/G ratio of 1.04 and a beta of 1.72.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be issued a dividend of $0.20 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. Applied Materials’s dividend payout ratio is presently 11.14%.
Applied Materials declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Ali Salehpour sold 125,125 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $51.47, for a total transaction of $6,440,183.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,716 shares of company stock worth $16,218,746. 0.35% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of AMAT. LeJeune Puetz Investment Counsel LLC bought a new position in Applied Materials during the third quarter valued at approximately $105,000. Financial Gravity Companies Inc. bought a new position in Applied Materials during the fourth quarter valued at approximately $110,000. Risk Paradigm Group LLC bought a new position in Applied Materials during the fourth quarter valued at approximately $110,000. Cerebellum GP LLC bought a new position in Applied Materials during the fourth quarter valued at approximately $122,000. Finally, First Personal Financial Services lifted its position in Applied Materials by 281.5% during the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after purchasing an additional 1,900 shares during the period. Institutional investors own 79.30% of the company’s stock.
Applied Materials Company Profile
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.
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