Applied Materials (AMAT) Given Consensus Recommendation of “Buy” by Brokerages

Applied Materials (NASDAQ:AMAT) has been given a consensus rating of “Buy” by the twenty-seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $64.71.

AMAT has been the topic of a number of recent research reports. Needham & Company LLC upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $66.00 to $72.00 in a research report on Monday, January 8th. Vetr downgraded shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $62.50 target price on the stock. in a research note on Monday, January 8th. BidaskClub downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. UBS raised shares of Applied Materials from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 16th. Finally, Susquehanna Bancshares raised shares of Applied Materials from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $60.00 to $72.00 in a research note on Tuesday, January 16th.

In other news, Director Thomas J. Iannotti sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $61.47, for a total value of $922,050.00. Following the sale, the director now directly owns 76,967 shares of the company’s stock, valued at approximately $4,731,161.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.



Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in Applied Materials by 9.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock worth $23,607,000 after buying an additional 38,960 shares during the period. Prudential Financial Inc. increased its stake in Applied Materials by 1.1% during the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock worth $318,778,000 after buying an additional 64,186 shares during the period. Elite Wealth Management Inc. purchased a new stake in Applied Materials during the 4th quarter worth approximately $635,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Applied Materials by 25.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock worth $2,547,000 after buying an additional 10,200 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in Applied Materials during the 4th quarter worth approximately $450,000. 79.03% of the stock is currently owned by hedge funds and other institutional investors.

AMAT opened at $48.72 on Wednesday. The stock has a market cap of $53,679.60, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.87 and a beta of 1.63. Applied Materials has a twelve month low of $40.28 and a twelve month high of $62.40. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same period in the previous year, the business posted $0.67 earnings per share. equities analysts predict that Applied Materials will post 4.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s payout ratio is 12.31%.

Applied Materials announced that its board has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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