Needham & Company LLC reiterated their buy rating on shares of Applied Materials Inc. (NASDAQ:AMAT) in a research note published on Friday morning. They currently have a $34.00 target price on the manufacturing equipment provider’s stock.

Several other equities analysts also recently weighed in on the company. Credit Suisse Group AG raised their price objective on Applied Materials from $26.00 to $29.00 and gave the company an outperform rating in a research note on Tuesday, August 9th. Citigroup Inc. increased their target price on Applied Materials from $31.00 to $32.00 and gave the company a buy rating in a report on Friday, August 19th. Morgan Stanley reiterated a buy rating and set a $25.00 target price on shares of Applied Materials in a report on Tuesday, August 16th. Stifel Nicolaus increased their target price on Applied Materials from $28.00 to $35.00 and gave the company a buy rating in a report on Monday, August 15th. Finally, Argus reiterated a buy rating and set a $34.00 target price on shares of Applied Materials in a report on Wednesday, August 24th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $30.39.

Shares of Applied Materials (NASDAQ:AMAT) opened at 30.39 on Friday. Applied Materials has a 12-month low of $14.29 and a 12-month high of $30.78. The company has a 50 day moving average price of $28.72 and a 200 day moving average price of $24.06. The stock has a market cap of $32.85 billion, a P/E ratio of 23.97 and a beta of 1.79.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The firm earned $2.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business posted $0.33 EPS. Applied Materials’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts anticipate that Applied Materials will post $1.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.32%. Applied Materials’s dividend payout ratio (DPR) is 31.25%.

In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total value of $150,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Omkaram Nalamasu sold 99,491 shares of Applied Materials stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $30.15, for a total value of $2,999,653.65. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Advisor Partners LLC increased its position in shares of Applied Materials by 0.3% in the first quarter. Advisor Partners LLC now owns 12,995 shares of the manufacturing equipment provider’s stock worth $275,000 after buying an additional 41 shares during the last quarter. Point View Wealth Management Inc. increased its position in shares of Applied Materials by 0.3% in the second quarter. Point View Wealth Management Inc. now owns 20,516 shares of the manufacturing equipment provider’s stock worth $492,000 after buying an additional 54 shares during the last quarter. Stephens Inc. AR increased its position in shares of Applied Materials by 0.5% in the second quarter. Stephens Inc. AR now owns 12,901 shares of the manufacturing equipment provider’s stock worth $309,000 after buying an additional 65 shares during the last quarter. First Manhattan Co. increased its position in shares of Applied Materials by 1.1% in the second quarter. First Manhattan Co. now owns 17,633 shares of the manufacturing equipment provider’s stock worth $422,000 after buying an additional 200 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Applied Materials by 3.5% in the second quarter. Advisors Asset Management Inc. now owns 8,922 shares of the manufacturing equipment provider’s stock worth $214,000 after buying an additional 305 shares during the last quarter. Institutional investors own 82.20% of the company’s stock.

Applied Materials Company Profile

Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.

5 Day Chart for NASDAQ:AMAT

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