Applied Materials (NASDAQ:AMAT) had its price target raised by Stifel Nicolaus from $66.00 to $71.00 in a report published on Thursday, Marketbeat.com reports. They currently have a buy rating on the manufacturing equipment provider’s stock.
Other equities analysts also recently issued research reports about the stock. Deutsche Bank lifted their target price on shares of Applied Materials from $58.00 to $65.00 and gave the stock a buy rating in a research note on Friday, November 17th. Bank of America lifted their target price on shares of Applied Materials from $65.00 to $76.00 and gave the stock a buy rating in a research note on Wednesday, November 15th. B. Riley reissued a buy rating and set a $63.00 target price on shares of Applied Materials in a research note on Monday, November 13th. Royal Bank of Canada reissued a buy rating on shares of Applied Materials in a research note on Friday, October 27th. Finally, Nomura reissued a buy rating and set a $65.00 target price (up previously from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $63.84.
Applied Materials (NASDAQ AMAT) opened at $55.03 on Thursday. The company has a market cap of $57,880.71, a price-to-earnings ratio of 20.77, a PEG ratio of 1.00 and a beta of 1.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. Applied Materials has a fifty-two week low of $34.72 and a fifty-two week high of $60.89.
Applied Materials announced that its board has authorized a stock repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be paid a $0.20 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s payout ratio is 15.09%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,716 shares of company stock valued at $16,218,746. Insiders own 0.35% of the company’s stock.
Several large investors have recently bought and sold shares of AMAT. W. E. Donoghue & Co. LLC bought a new stake in shares of Applied Materials during the second quarter worth about $2,147,000. Eqis Capital Management Inc. increased its position in shares of Applied Materials by 291.8% during the third quarter. Eqis Capital Management Inc. now owns 26,177 shares of the manufacturing equipment provider’s stock worth $1,364,000 after acquiring an additional 19,495 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Applied Materials during the third quarter worth about $1,040,000. Assenagon Asset Management S.A. bought a new stake in shares of Applied Materials during the third quarter worth about $8,336,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Applied Materials by 3.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 755,249 shares of the manufacturing equipment provider’s stock worth $39,338,000 after acquiring an additional 23,411 shares in the last quarter. 79.93% of the stock is owned by institutional investors.
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.
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