Craig Hallum Reaffirms “Buy” Rating for Applied Materials (NASDAQ:AMAT)

Craig Hallum reaffirmed their buy rating on shares of Applied Materials (NASDAQ:AMAT) in a report published on Thursday, The Fly reports. Craig Hallum currently has a $79.00 price target on the manufacturing equipment provider’s stock, up from their prior price target of $70.00.

Several other equities research analysts also recently weighed in on the company. Credit Suisse Group increased their price target on Applied Materials from $70.00 to $85.00 and gave the stock an outperform rating in a research report on Thursday. Berenberg Bank reaffirmed a buy rating and set a $65.00 price target on shares of Applied Materials in a research report on Friday, November 22nd. Susquehanna Bancshares reaffirmed a buy rating and set a $80.00 price target (up from $70.00) on shares of Applied Materials in a research report on Friday, November 15th. Wells Fargo & Co increased their price target on Applied Materials from $70.00 to $78.00 and gave the stock a positive rating in a research report on Thursday. Finally, ValuEngine downgraded Applied Materials from a hold rating to a sell rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $71.04.

AMAT traded down $0.52 during midday trading on Thursday, hitting $66.85. 8,094,968 shares of the company were exchanged, compared to its average volume of 7,525,363. The company’s 50 day simple moving average is $61.78 and its 200 day simple moving average is $55.12. The firm has a market capitalization of $57.80 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.64. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. Applied Materials has a 1-year low of $36.80 and a 1-year high of $69.44.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.11 billion. Applied Materials had a return on equity of 35.13% and a net margin of 18.52%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. On average, equities analysts anticipate that Applied Materials will post 3.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Applied Materials’s dividend payout ratio (DPR) is presently 27.63%.

In other news, CEO Gary E. Dickerson sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $61.11, for a total transaction of $61,110,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $60.73, for a total value of $3,036,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,053,000 shares of company stock worth $64,335,080 over the last 90 days. Insiders own 0.41% of the company’s stock.

Several large investors have recently bought and sold shares of AMAT. Rosenbaum Jay D. raised its position in shares of Applied Materials by 18.9% during the 4th quarter. Rosenbaum Jay D. now owns 8,498 shares of the manufacturing equipment provider’s stock valued at $519,000 after buying an additional 1,348 shares during the period. Allworth Financial LP raised its position in Applied Materials by 8.2% in the fourth quarter. Allworth Financial LP now owns 4,531 shares of the manufacturing equipment provider’s stock valued at $277,000 after purchasing an additional 342 shares during the period. BBVA USA Bancshares Inc. raised its position in Applied Materials by 6.0% in the fourth quarter. BBVA USA Bancshares Inc. now owns 35,473 shares of the manufacturing equipment provider’s stock valued at $2,165,000 after purchasing an additional 2,008 shares during the period. HGK Asset Management Inc. purchased a new stake in Applied Materials in the third quarter valued at approximately $5,090,000. Finally, Altium Wealth Management LLC purchased a new stake in Applied Materials in the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 79.81% of the company’s stock.

Applied Materials Company Profile

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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