Applied Materials, Inc. (AMAT) Upgraded to “Buy” at Vetr Inc.
Vetr upgraded shares of Applied Materials, Inc. (NASDAQ:AMAT) from a hold rating to a buy rating in a report published on Monday morning. They currently have $60.07 target price on the manufacturing equipment provider’s stock.
Several other research firms also recently commented on AMAT. Cowen and Company reissued a buy rating and set a $50.00 target price on shares of Applied Materials in a research report on Friday, July 28th. BidaskClub downgraded shares of Applied Materials from a strong-buy rating to a buy rating in a research report on Wednesday, August 2nd. B. Riley reissued a buy rating and set a $56.00 target price on shares of Applied Materials in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Applied Materials from a buy rating to a hold rating in a research report on Monday, August 14th. Finally, Morgan Stanley reissued an overweight rating and set a $52.00 target price on shares of Applied Materials in a research report on Monday, August 14th. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $60.35.
Shares of Applied Materials (AMAT) opened at $57.62 on Monday. Applied Materials has a 52 week low of $29.85 and a 52 week high of $60.89. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. The firm has a market cap of $61,450.00, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. equities research analysts predict that Applied Materials will post 3.86 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s payout ratio is 12.62%.
In other news, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander Karsner sold 22,762 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Applied Materials during the 3rd quarter valued at $2,204,000. Americafirst Capital Management LLC bought a new position in shares of Applied Materials during the 3rd quarter valued at $403,000. Cypress Capital Group bought a new position in shares of Applied Materials during the 3rd quarter valued at $365,000. Belpointe Asset Management LLC bought a new position in shares of Applied Materials during the 3rd quarter valued at $741,000. Finally, Independent Advisor Alliance grew its holdings in shares of Applied Materials by 23.6% during the 3rd quarter. Independent Advisor Alliance now owns 14,710 shares of the manufacturing equipment provider’s stock valued at $775,000 after purchasing an additional 2,809 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.
Applied Materials Company Profile
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