Applied Materials, Inc. (NASDAQ:AMAT) Given Average Recommendation of “Moderate Buy” by Brokerages

Applied Materials, Inc. (NASDAQ:AMAT) has been given a consensus recommendation of “Moderate Buy” by the twenty-six research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $191.83.

AMAT has been the topic of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 target price on shares of Applied Materials in a research note on Monday, March 4th. Citigroup raised their target price on shares of Applied Materials from $170.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Barclays raised their target price on shares of Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Tuesday, January 16th. Stifel Nicolaus raised their target price on shares of Applied Materials from $175.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, UBS Group raised their price objective on shares of Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th.

Applied Materials Stock Up 0.6 %

AMAT stock opened at $208.00 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. Applied Materials has a fifty-two week low of $109.00 and a fifty-two week high of $214.91. The firm’s 50-day simple moving average is $189.26 and its 200 day simple moving average is $161.58. The stock has a market cap of $172.83 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 3.15 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The business had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.48 billion. During the same quarter last year, the company earned $2.03 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials will post 8.03 EPS for the current year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.77%. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 15.06%.

Institutional Trading of Applied Materials

Several institutional investors have recently made changes to their positions in AMAT. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Applied Materials by 5.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,020,894 shares of the manufacturing equipment provider’s stock worth $134,555,000 after purchasing an additional 54,261 shares during the period. Zions Bancorporation N.A. boosted its holdings in shares of Applied Materials by 92.3% during the first quarter. Zions Bancorporation N.A. now owns 3,180 shares of the manufacturing equipment provider’s stock worth $419,000 after purchasing an additional 1,526 shares during the period. Brown Brothers Harriman & Co. raised its position in Applied Materials by 21.7% during the first quarter. Brown Brothers Harriman & Co. now owns 8,981 shares of the manufacturing equipment provider’s stock valued at $1,184,000 after acquiring an additional 1,604 shares in the last quarter. Merit Financial Group LLC bought a new position in Applied Materials during the first quarter valued at approximately $315,000. Finally, West Family Investments Inc. raised its position in Applied Materials by 12.6% during the first quarter. West Family Investments Inc. now owns 2,215 shares of the manufacturing equipment provider’s stock valued at $292,000 after acquiring an additional 248 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.