Pacific Crest reiterated their buy rating on shares of Applied Materials Inc. (NASDAQ:AMAT) in a research note published on Thursday.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Other equities research analysts have also recently issued research reports about the company. Berenberg Bank upped their price target on Applied Materials to $35.00 in a research note on Thursday. B. Riley restated an amat ($29.20 rating and set a $39.00 price target on shares of Applied Materials in a research note on Sunday, August 21st. Credit Suisse Group AG restated a buy rating on shares of Applied Materials in a research note on Friday, June 10th. Vetr upgraded Applied Materials from a hold rating to a buy rating and set a $25.00 price target for the company in a research note on Monday, June 13th. Finally, Needham & Company LLC restated a buy rating and set a $26.00 price target on shares of Applied Materials in a research note on Monday, June 13th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $30.72.

Applied Materials (NASDAQ:AMAT) opened at 30.18 on Thursday. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 23.80 and a beta of 1.79. Applied Materials has a one year low of $14.33 and a one year high of $31.07. The firm has a 50-day moving average price of $28.97 and a 200-day moving average price of $24.16.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share for the quarter, beating the Zacks’ 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 company earned $2.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts predict that Applied Materials will post $1.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.32%. Applied Materials’s payout ratio is currently 31.25%.

In other Applied Materials news, VP Omkaram Nalamasu sold 26,035 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

A number of large investors have recently modified their holdings of AMAT. Advisor Partners LLC raised its stake 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 period. Point View Wealth Management Inc. raised its stake 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 period. Stephens Inc. AR raised its stake 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 period. First Manhattan Co. raised its stake 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 period. Finally, Advisors Asset Management Inc. raised its stake 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 period. Hedge funds and other 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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