Applied Materials (NASDAQ:AMAT) PT Raised to $74.00

Applied Materials (NASDAQ:AMAT) had its target price boosted by B. Riley from $71.00 to $74.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the manufacturing equipment provider’s stock. B. Riley also issued estimates for Applied Materials’ Q2 2020 earnings at $1.04 EPS, Q3 2020 earnings at $1.04 EPS, Q4 2020 earnings at $1.13 EPS, Q1 2021 earnings at $0.96 EPS, Q2 2021 earnings at $1.07 EPS, Q3 2021 earnings at $1.14 EPS, Q4 2021 earnings at $1.19 EPS and FY2022 earnings at $5.66 EPS.

Several other analysts have also recently commented on the company. Needham & Company LLC restated a buy rating and issued a $70.00 target price on shares of Applied Materials in a research report on Tuesday, January 21st. DZ Bank cut Applied Materials from a hold rating to a sell rating and set a $46.00 target price on the stock. in a research report on Tuesday, October 29th. UBS Group lowered Applied Materials from a neutral rating to a sell rating in a research note on Wednesday, November 27th. Royal Bank of Canada increased their price target on Applied Materials from $63.00 to $67.00 and gave the company an outperform rating in a research note on Friday, November 15th. Finally, Berenberg Bank reaffirmed a buy rating and set a $65.00 price target on shares of Applied Materials in a research note on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $71.04.

AMAT traded down $0.52 during trading hours on Thursday, hitting $66.85. The company’s stock had a trading volume of 8,094,968 shares, compared to its average volume of 7,525,363. Applied Materials has a fifty-two week low of $36.80 and a fifty-two week high of $69.44. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $57.80 billion, a PE ratio of 23.37, a PEG ratio of 2.01 and a beta of 1.64. The company has a 50-day simple moving average of $61.78 and a 200 day simple moving average of $55.12.

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

The company 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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, February 18th. Applied Materials’s payout ratio is currently 27.63%.

In other news, CEO Gary E. Dickerson sold 1,000,000 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 3,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.86, for a total value of $188,580.00. The disclosure for this sale can be found here. Over the last three months, insiders have 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 and hedge funds have recently added to or reduced their stakes in the company. NuWave Investment Management LLC increased its stake in Applied Materials by 661.9% in the third quarter. NuWave Investment Management LLC now owns 1,821 shares of the manufacturing equipment provider’s stock valued at $93,000 after purchasing an additional 1,582 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Applied Materials by 11.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,830 shares of the manufacturing equipment provider’s stock valued at $2,885,000 after purchasing an additional 5,803 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Applied Materials by 3.4% in the third quarter. CIBC Private Wealth Group LLC now owns 71,333 shares of the manufacturing equipment provider’s stock valued at $3,560,000 after purchasing an additional 2,342 shares during the last quarter. Advisor Partners LLC increased its stake in Applied Materials by 8.3% in the third quarter. Advisor Partners LLC now owns 31,916 shares of the manufacturing equipment provider’s stock valued at $1,593,000 after purchasing an additional 2,444 shares during the last quarter. Finally, Mission Wealth Management LP increased its stake in Applied Materials by 0.9% in the third quarter. Mission Wealth Management LP now owns 84,189 shares of the manufacturing equipment provider’s stock valued at $4,201,000 after purchasing an additional 712 shares during the last quarter. 79.81% of the stock is owned by institutional investors and hedge funds.

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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