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.
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.
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