Applied Materials, Inc. (AMAT) Earns “Overweight” Rating from Morgan Stanley
A number of other research analysts also recently issued reports on AMAT. UBS AG restated a buy rating and issued a $51.00 price target (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. B. Riley restated a buy rating and issued a $56.00 price target on shares of Applied Materials in a research report on Tuesday, July 11th. Vetr upgraded shares of Applied Materials from a buy rating to a strong-buy rating and set a $48.16 price target on the stock in a research report on Thursday, August 10th. Instinet restated a buy rating and issued a $50.00 price target (up previously from $47.00) on shares of Applied Materials in a research report on Monday, August 21st. Finally, BidaskClub downgraded shares of Applied Materials from a strong-buy rating to a buy rating in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $51.55.
Applied Materials (NASDAQ:AMAT) opened at 47.14 on Thursday. The company has a 50-day moving average of $44.31 and a 200 day moving average of $42.57. The firm has a market capitalization of $50.27 billion, a price-to-earnings ratio of 16.76 and a beta of 1.81. Applied Materials has a one year low of $27.56 and a one year high of $47.86.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 EPS. On average, analysts anticipate that Applied Materials will post $3.20 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 14.18%.
In related news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Wunderlich Capital Managemnt grew its position in Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after acquiring an additional 87 shares during the last quarter. Bessemer Group Inc. grew its position in Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after acquiring an additional 1,817 shares during the last quarter. Clean Yield Group bought a new position in Applied Materials during the first quarter valued at approximately $124,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Applied Materials during the second quarter valued at approximately $134,000. Finally, IHT Wealth Management LLC grew its position in Applied Materials by 67.8% during the second quarter. IHT Wealth Management LLC now owns 3,344 shares of the manufacturing equipment provider’s stock valued at $148,000 after acquiring an additional 1,351 shares during the last quarter. Institutional investors own 79.67% of the company’s stock.
About Applied Materials
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