Needham & Company LLC Boosts Applied Materials (NASDAQ:AMAT) Price Target to $110.00

Applied Materials (NASDAQ:AMAT) had its target price increased by Needham & Company LLC from $82.00 to $110.00 in a report published on Wednesday morning, Analyst Ratings Network reports. They currently have a buy rating on the manufacturing equipment provider’s stock.

A number of other equities analysts have also weighed in on AMAT. Argus boosted their price objective on Applied Materials from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, November 16th. They noted that the move was a valuation call. B. Riley boosted their price objective on Applied Materials from $85.00 to $110.00 and gave the stock a buy rating in a research note on Monday, December 14th. Mizuho boosted their price objective on Applied Materials from $82.00 to $96.00 and gave the stock a buy rating in a research note on Monday, December 28th. The Goldman Sachs Group boosted their price objective on Applied Materials from $83.00 to $99.00 and gave the stock a buy rating in a research note on Monday, December 14th. Finally, Zacks Investment Research lowered Applied Materials from a buy rating to a hold rating and set a $68.00 price target on the stock. in a research note on Tuesday, October 13th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Applied Materials currently has a consensus rating of Buy and a consensus price target of $84.96.

Shares of NASDAQ:AMAT opened at $86.30 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.00 and a quick ratio of 2.12. The business’s 50 day moving average price is $83.38 and its 200-day moving average price is $67.18. The firm has a market capitalization of $78.91 billion, a PE ratio of 22.02, a P/E/G ratio of 1.74 and a beta of 1.49. Applied Materials has a 1 year low of $36.64 and a 1 year high of $90.61.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Tuesday, November 17th. The manufacturing equipment provider reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.08. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.60 billion. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, analysts expect that Applied Materials will post 4.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 18th. Shareholders of record on Thursday, February 25th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, February 24th. This represents a $0.88 annualized dividend and a yield of 1.02%. Applied Materials’s dividend payout ratio (DPR) is 21.10%.

In other Applied Materials news, SVP Omkaram Nalamasu sold 800 shares of the company’s stock in a transaction dated Monday, December 21st. The stock was sold at an average price of $86.50, for a total transaction of $69,200.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMAT. BlackRock Inc. increased its holdings in shares of Applied Materials by 8.4% in the 3rd quarter. BlackRock Inc. now owns 78,143,901 shares of the manufacturing equipment provider’s stock valued at $4,645,656,000 after acquiring an additional 6,028,231 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Applied Materials by 69.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,619,884 shares of the manufacturing equipment provider’s stock valued at $393,553,000 after acquiring an additional 2,713,799 shares during the last quarter. Baupost Group LLC MA purchased a new position in shares of Applied Materials in the 3rd quarter valued at about $137,127,000. FIL Ltd increased its holdings in shares of Applied Materials by 163.6% in the 2nd quarter. FIL Ltd now owns 2,492,060 shares of the manufacturing equipment provider’s stock valued at $150,645,000 after acquiring an additional 1,546,627 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Applied Materials by 350.3% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,916,624 shares of the manufacturing equipment provider’s stock valued at $113,943,000 after acquiring an additional 1,490,976 shares during the last quarter. Institutional investors and hedge funds own 75.74% 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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