Applied Materials Inc. (AMAT) Receives Buy Rating from Goldman Sachs Group Inc.
Goldman Sachs Group Inc. reaffirmed their buy rating on shares of Applied Materials Inc. (NASDAQ:AMAT) in a research report released on Tuesday morning. They currently have a $33.00 price objective on the manufacturing equipment provider’s stock.
A number of other brokerages have also issued reports on AMAT. Nomura reissued a buy rating and issued a $28.00 price target (up from $25.00) on shares of Applied Materials in a research note on Thursday, June 23rd. Vetr lowered Applied Materials from a buy rating to a hold rating and set a $25.00 price target on the stock. in a research note on Thursday, July 7th. Pacific Crest reissued a buy rating on shares of Applied Materials in a research note on Thursday, September 22nd. B. Riley reissued a buy rating and issued a $27.00 price target on shares of Applied Materials in a research note on Friday, June 10th. Finally, DA Davidson raised Applied Materials from a neutral rating to a buy rating and raised their price target for the stock from $24.00 to $28.00 in a research note on Friday, June 24th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials currently has a consensus rating of Buy and a consensus target price of $31.20.
Applied Materials (NASDAQ:AMAT) opened at 29.75 on Tuesday. Applied Materials has a 12 month low of $15.07 and a 12 month high of $31.07. The stock’s 50 day moving average price is $29.83 and its 200-day moving average price is $24.93. The firm has a market capitalization of $32.16 billion, a P/E ratio of 23.46 and a beta of 1.84.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts forecast that Applied Materials will post $1.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. Applied Materials’s payout ratio is 31.25%.
In other 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Omkaram Nalamasu sold 26,035 shares of Applied Materials stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $30.15, for a total value of $784,955.25. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AMAT. Legal & General Group Plc raised its position in shares of Applied Materials by 2.4% in the first quarter. Legal & General Group Plc now owns 5,063,202 shares of the manufacturing equipment provider’s stock valued at $107,236,000 after buying an additional 119,577 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Applied Materials by 602.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 421,389 shares of the manufacturing equipment provider’s stock valued at $10,100,000 after buying an additional 361,392 shares during the last quarter. AXA raised its position in shares of Applied Materials by 460.6% in the first quarter. AXA now owns 39,800 shares of the manufacturing equipment provider’s stock valued at $843,000 after buying an additional 32,700 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Applied Materials by 3,147,067.3% in the second quarter. ClariVest Asset Management LLC now owns 1,730,942 shares of the manufacturing equipment provider’s stock valued at $41,490,000 after buying an additional 1,730,887 shares during the last quarter. Finally, Pensionfund Sabic purchased a new position in shares of Applied Materials during the second quarter valued at approximately $1,966,000. 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.
Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.