KeyCorp reaffirmed their overweight rating on shares of Applied Materials (NASDAQ:AMAT) in a research note released on Friday morning, MarketBeat reports. The brokerage currently has a $56.00 price objective on the manufacturing equipment provider’s stock, down from their previous price objective of $71.00. KeyCorp also issued estimates for Applied Materials’ Q1 2019 earnings at $0.80 EPS, Q2 2019 earnings at $0.85 EPS, Q1 2020 earnings at $1.07 EPS, Q2 2020 earnings at $1.16 EPS and FY2020 earnings at $4.53 EPS.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Co dropped their price target on Applied Materials from $60.00 to $45.00 and set an outperform rating on the stock in a research report on Friday. JPMorgan Chase & Co. dropped their price target on Applied Materials from $63.00 to $54.00 and set an overweight rating on the stock in a research report on Friday. BidaskClub raised Applied Materials from a sell rating to a hold rating in a research report on Friday. Stifel Nicolaus set a $63.00 price target on Applied Materials and gave the stock a buy rating in a research report on Wednesday, November 14th. Finally, Zacks Investment Research reissued a hold rating on shares of Applied Materials in a research report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $53.10.

AMAT opened at $34.42 on Friday. Applied Materials has a 12-month low of $30.53 and a 12-month high of $62.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.73 and a current ratio of 2.64. The firm has a market cap of $34.80 billion, a PE ratio of 7.73, a PEG ratio of 0.99 and a beta of 1.60.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. Applied Materials had a return on equity of 62.56% and a net margin of 19.20%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4 billion. On average, equities analysts expect that Applied Materials will post 4.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 17.98%.

Several hedge funds and other institutional investors have recently modified their holdings of AMAT. 180 Wealth Advisors LLC raised its stake in Applied Materials by 8.5% in the second quarter. 180 Wealth Advisors LLC now owns 12,761 shares of the manufacturing equipment provider’s stock valued at $589,000 after buying an additional 1,001 shares during the last quarter. Cadence Capital Management LLC raised its stake in Applied Materials by 17.9% in the second quarter. Cadence Capital Management LLC now owns 6,702 shares of the manufacturing equipment provider’s stock valued at $310,000 after buying an additional 1,018 shares during the last quarter. Elite Wealth Management Inc. raised its stake in Applied Materials by 8.4% in the second quarter. Elite Wealth Management Inc. now owns 13,901 shares of the manufacturing equipment provider’s stock valued at $642,000 after buying an additional 1,081 shares during the last quarter. Parallel Advisors LLC raised its stake in Applied Materials by 30.5% in the second quarter. Parallel Advisors LLC now owns 4,657 shares of the manufacturing equipment provider’s stock valued at $215,000 after buying an additional 1,088 shares during the last quarter. Finally, Whittier Trust Co. raised its stake in Applied Materials by 24.3% in the second quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 78.74% of the company’s stock.

About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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