Applied Materials, Inc. (NASDAQ:AMAT) had its price target lifted by RBC Capital Markets from $30.00 to $35.00 in a research report report published on Thursday morning. The brokerage currently has a sector perform rating on the manufacturing equipment provider’s stock.

Several other research analysts have also recently weighed in on AMAT. Needham & Company LLC reissued a buy rating and issued a $34.00 price target on shares of Applied Materials in a report on Tuesday, October 25th. Zacks Investment Research cut shares of Applied Materials from a buy rating to a hold rating in a report on Wednesday, November 2nd. Credit Suisse Group reissued a buy rating and issued a $34.00 price target on shares of Applied Materials in a report on Wednesday, November 16th. B. Riley reissued a buy rating and issued a $38.00 price target on shares of Applied Materials in a report on Friday, November 18th. Finally, Deutsche Bank AG reissued a buy rating and issued a $33.00 price target on shares of Applied Materials in a report on Friday, November 18th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $34.38.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Shares of Applied Materials (NASDAQ:AMAT) opened at 35.18 on Thursday. The stock has a market cap of $37.87 billion, a P/E ratio of 22.84 and a beta of 1.81. Applied Materials has a 12 month low of $18.09 and a 12 month high of $35.85. The stock has a 50 day moving average price of $34.05 and a 200 day moving average price of $30.79.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 15th. The manufacturing equipment provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. During the same period in the prior year, the firm earned $0.26 EPS. Equities analysts anticipate that Applied Materials will post $2.46 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 22nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 17th. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. Applied Materials’s dividend payout ratio is currently 25.64%.

In other Applied Materials news, VP Thomas F. Larkins sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $31.94, for a total value of $3,194,000.00. Following the sale, the vice president now owns 482,782 shares in the company, valued at $15,420,057.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen R. Forrest sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $31.86, for a total transaction of $152,928.00. The disclosure for this sale can be found here. Insiders sold 125,817 shares of company stock worth $4,018,421 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance bought a new stake in shares of Applied Materials during the fourth quarter worth $105,000. First Interstate Bank raised its stake in shares of Applied Materials by 2.9% in the fourth quarter. First Interstate Bank now owns 3,296 shares of the manufacturing equipment provider’s stock worth $106,000 after buying an additional 93 shares in the last quarter. First Quadrant L P CA bought a new stake in shares of Applied Materials during the third quarter worth $103,000. MCF Advisors LLC raised its stake in shares of Applied Materials by 0.3% in the third quarter. MCF Advisors LLC now owns 3,643 shares of the manufacturing equipment provider’s stock worth $110,000 after buying an additional 12 shares in the last quarter. Finally, Parallel Advisors LLC bought a new stake in shares of Applied Materials during the fourth quarter worth $123,000. Hedge funds and other institutional investors own 82.52% of the company’s stock.

Applied Materials Company Profile

5 Day Chart for NASDAQ:AMAT

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