Applied Materials (NASDAQ:AMAT) Given New $73.00 Price Target at Needham & Company LLC

Applied Materials (NASDAQ:AMAT) had its price objective hoisted by Needham & Company LLC from $70.00 to $73.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the manufacturing equipment provider’s stock.

AMAT has been the topic of a number of other research reports. Susquehanna Bancshares reaffirmed a buy rating and set a $80.00 target price (up previously from $70.00) on shares of Applied Materials in a report on Friday, November 15th. BidaskClub raised shares of Applied Materials from a hold rating to a buy rating in a report on Friday, February 7th. DA Davidson raised shares of Applied Materials from a neutral rating to a buy rating and set a $76.00 target price on the stock in a report on Thursday. B. Riley upped their target price on shares of Applied Materials from $71.00 to $74.00 and gave the stock a buy rating in a report on Thursday. Finally, Nomura upped their target price on shares of Applied Materials from $75.00 to $77.00 and gave the stock a buy rating in a report on Thursday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. Applied Materials has an average rating of Buy and an average target price of $71.04.

Applied Materials stock traded down $0.52 during midday trading on Thursday, reaching $66.85. 8,094,968 shares of the stock were exchanged, compared to its average volume of 7,525,363. The company’s fifty day moving average is $61.78 and its 200-day moving average is $55.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.30. The firm has a market cap of $57.80 billion, a PE ratio of 23.37, a PEG ratio of 2.01 and a beta of 1.64. Applied Materials has a 52 week low of $36.80 and a 52 week high of $69.44.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.06. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.11 billion. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. Applied Materials’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 EPS. On average, sell-side analysts anticipate that Applied Materials will post 3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 19th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.84 dividend on an annualized basis and a yield of 1.26%. Applied Materials’s dividend payout ratio is presently 27.63%.

In other news, SVP Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $60.73, for a total value of $3,036,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.86, for a total transaction of $188,580.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,053,000 shares of company stock valued at $64,335,080. Corporate insiders own 0.41% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in Applied Materials during the 4th quarter valued at $27,000. Altshuler Shaham Ltd raised its holdings in Applied Materials by 7,516.7% during the 4th quarter. Altshuler Shaham Ltd now owns 457 shares of the manufacturing equipment provider’s stock valued at $28,000 after buying an additional 451 shares during the last quarter. Raab & Moskowitz Asset Management LLC bought a new stake in Applied Materials during the 4th quarter valued at $29,000. Cedar Wealth Management LLC bought a new stake in Applied Materials during the 4th quarter valued at $34,000. Finally, Northwest Investment Counselors LLC bought a new stake in Applied Materials during the 3rd quarter valued at $29,000. 79.81% of the stock is owned by institutional investors.

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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