Applied Materials (NASDAQ:AMAT) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Applied Materials (NASDAQ:AMAT) in a research report sent to investors on Sunday morning, AnalystRatings.com reports. The firm currently has a $52.00 target price on the manufacturing equipment provider’s stock.

A number of other brokerages have also recently commented on AMAT. B. Riley upgraded Applied Materials from a neutral rating to a buy rating and increased their price target for the company from $46.00 to $54.00 in a research note on Friday, May 17th. Zacks Investment Research upgraded Applied Materials from a hold rating to a buy rating and set a $41.00 price target for the company in a research note on Tuesday, June 4th. DA Davidson cut Applied Materials from a buy rating to a neutral rating and dropped their price target for the company from $55.00 to $45.00 in a research note on Monday, July 8th. Wells Fargo & Co reiterated an outperform rating on shares of Applied Materials in a research note on Thursday, June 20th. Finally, BidaskClub cut Applied Materials from a buy rating to a hold rating in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of Buy and an average price target of $51.00.

Shares of AMAT opened at $46.83 on Friday. Applied Materials has a 52 week low of $28.79 and a 52 week high of $52.42. The stock has a market capitalization of $43.84 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 2.36 and a beta of 1.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The stock has a fifty day moving average of $47.30 and a 200-day moving average of $42.65.



Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the company earned $1.20 EPS. Applied Materials’s revenue was down 14.4% compared to the same quarter last year. As a group, equities analysts forecast that Applied Materials will post 3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a yield of 1.79%. Applied Materials’s payout ratio is 18.88%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JNBA Financial Advisors grew its holdings in Applied Materials by 0.8% during the 2nd quarter. JNBA Financial Advisors now owns 24,070 shares of the manufacturing equipment provider’s stock worth $1,081,000 after acquiring an additional 200 shares during the period. Hartford Financial Management Inc. grew its holdings in Applied Materials by 0.6% during the 2nd quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock worth $1,926,000 after acquiring an additional 248 shares during the period. ETRADE Capital Management LLC grew its holdings in Applied Materials by 3.3% during the 2nd quarter. ETRADE Capital Management LLC now owns 7,725 shares of the manufacturing equipment provider’s stock worth $347,000 after acquiring an additional 248 shares during the period. Evermay Wealth Management LLC grew its holdings in Applied Materials by 4.1% during the 1st quarter. Evermay Wealth Management LLC now owns 6,409 shares of the manufacturing equipment provider’s stock worth $254,000 after acquiring an additional 250 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in Applied Materials by 4.2% during the 2nd quarter. Park Avenue Securities LLC now owns 6,320 shares of the manufacturing equipment provider’s stock worth $284,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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