Applied Materials (NASDAQ:AMAT) had its price target increased by research analysts at KeyCorp from $67.00 to $74.00 in a research note issued on Thursday, February 15th. The brokerage currently has an “overweight” rating on the manufacturing equipment provider’s stock. KeyCorp’s target price would indicate a potential upside of 21.37% from the stock’s current price. 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.
AMAT has been the topic of several other reports. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 target price on the stock in a research report on Monday, November 20th. Zacks Investment Research lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. B. Riley reaffirmed a “buy” rating and set a $63.00 price target on shares of Applied Materials in a research note on Monday, November 13th. JPMorgan Chase & Co. lifted their price target on Applied Materials to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Finally, BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Twenty-six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $64.10.
Shares of Applied Materials (NASDAQ:AMAT) opened at $60.97 on Thursday. The company has a market cap of $64,060.00, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. Applied Materials has a 1 year low of $37.41 and a 1 year high of $62.40. 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 declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
In other Applied Materials news, Director Stephen R. Forrest sold 4,000 shares of Applied Materials stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials 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 disclosure for this sale can be found here. Insiders sold a total of 322,716 shares of company stock valued at $16,850,796 in the last three months. 0.35% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mosaic Family Wealth LLC grew its holdings in Applied Materials by 56.1% in the 3rd quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 984 shares during the period. Gabelli Funds LLC grew its holdings in Applied Materials by 1.2% in the 4th quarter. Gabelli Funds LLC now owns 87,000 shares of the manufacturing equipment provider’s stock valued at $4,447,000 after buying an additional 1,000 shares during the period. Telemus Capital LLC grew its holdings in Applied Materials by 9.2% in the 3rd quarter. Telemus Capital LLC now owns 12,162 shares of the manufacturing equipment provider’s stock valued at $634,000 after buying an additional 1,020 shares during the period. Bbva Compass Bancshares Inc. grew its holdings in Applied Materials by 27.7% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 4,799 shares of the manufacturing equipment provider’s stock valued at $245,000 after buying an additional 1,041 shares during the period. Finally, CAPROCK Group Inc. grew its holdings in Applied Materials by 13.9% in the 3rd quarter. CAPROCK Group Inc. now owns 8,595 shares of the manufacturing equipment provider’s stock valued at $448,000 after buying an additional 1,046 shares during the period. Institutional investors own 79.30% of the company’s stock.
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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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