Applied Materials Inc. (AMAT) Receives Buy Rating from Nomura
Nomura reaffirmed their buy rating on shares of Applied Materials Inc. (NASDAQ:AMAT) in a research note issued to investors on Thursday morning. Nomura currently has a $31.00 target price on the manufacturing equipment provider’s stock.
Other equities research analysts also recently issued research reports about the stock. B. Riley reaffirmed a buy rating and set a $27.00 price target on shares of Applied Materials in a research note on Friday, June 10th. Vetr raised shares of Applied Materials from a hold rating to a buy rating and set a $25.00 price target on the stock in a research note on Monday, June 13th. Summit Redstone reaffirmed a buy rating on shares of Applied Materials in a research note on Wednesday, June 29th. Finally, S&P Equity Research set a $31.00 price target on shares of Applied Materials and gave the company a hold rating in a research note on Sunday, August 21st. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $30.72.
Shares of Applied Materials (NASDAQ:AMAT) opened at 30.18 on Thursday. The stock has a 50 day moving average of $28.97 and a 200 day moving average of $24.16. The stock has a market capitalization of $32.62 billion, a PE ratio of 23.80 and a beta of 1.79. Applied Materials has a 52-week low of $14.33 and a 52-week high of $31.07.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Applied Materials will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.32%. Applied Materials’s payout ratio is 31.25%.
In other news, VP Omkaram Nalamasu sold 99,491 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $30.15, for a total transaction of $2,999,653.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Several large investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its stake in shares of Applied Materials by 63.8% in the first quarter. Teachers Advisors Inc. now owns 5,210,641 shares of the manufacturing equipment provider’s stock worth $110,361,000 after buying an additional 2,030,178 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Applied Materials by 35.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,948,114 shares of the manufacturing equipment provider’s stock worth $231,881,000 after buying an additional 2,885,695 shares during the last quarter. Ngam Advisors L.P. boosted its stake in shares of Applied Materials by 2.5% in the first quarter. Ngam Advisors L.P. now owns 323,214 shares of the manufacturing equipment provider’s stock worth $6,845,000 after buying an additional 7,763 shares during the last quarter. Morris Capital Advisors LLC purchased a new stake in shares of Applied Materials during the first quarter worth approximately $283,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of Applied Materials during the first quarter worth approximately $3,495,000. 82.20% of the stock is currently owned by institutional investors and hedge funds.
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.
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