Applied Materials (NASDAQ:AMAT) had its price objective lifted by Wells Fargo & Company from $145.00 to $160.00 in a research report released on Wednesday morning, PriceTargets.com reports. The firm currently has an overweight rating on the manufacturing equipment provider’s stock.
AMAT has been the subject of several other research reports. Sanford C. Bernstein began coverage on shares of Applied Materials in a research report on Tuesday, March 30th. They set an outperform rating and a $160.00 price target for the company. DA Davidson increased their price objective on shares of Applied Materials from $135.00 to $145.00 and gave the company a buy rating in a report on Friday, February 19th. Cowen increased their price objective on shares of Applied Materials from $140.00 to $160.00 and gave the company an outperform rating in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of Applied Materials from $95.00 to $140.00 in a report on Friday, February 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Applied Materials from $88.00 to $146.00 and gave the company an overweight rating in a report on Friday, February 19th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $140.36.
Shares of Applied Materials stock opened at $139.14 on Wednesday. Applied Materials has a fifty-two week low of $46.22 and a fifty-two week high of $146.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.12 and a current ratio of 3.00. The firm has a 50-day simple moving average of $120.69 and a two-hundred day simple moving average of $91.29. The company has a market cap of $127.68 billion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 2.06 and a beta of 1.48.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, May 27th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, May 26th. This is a positive change from Applied Materials’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 0.69%. Applied Materials’s dividend payout ratio is 21.10%.
In other Applied Materials news, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $131.95, for a total transaction of $1,979,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC raised its holdings in shares of Applied Materials by 42.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock valued at $25,000 after purchasing an additional 88 shares in the last quarter. Key Financial Inc acquired a new stake in shares of Applied Materials in the 4th quarter valued at $26,000. Paces Ferry Wealth Advisors LLC acquired a new stake in shares of Applied Materials in the 3rd quarter valued at $31,000. Curi Capital acquired a new stake in shares of Applied Materials in the 4th quarter valued at $31,000. Finally, Addison Advisors LLC acquired a new stake in shares of Applied Materials in the 4th quarter valued at $38,000. Institutional investors own 78.80% 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.
Featured Story: How does quantitative easing work?
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.