Applied Materials (NASDAQ:AMAT) had its price objective hoisted by Credit Suisse Group from $72.00 to $74.00 in a research note released on Thursday. Credit Suisse Group currently has an outperform rating on the manufacturing equipment provider’s stock.
Other equities analysts have also recently issued research reports about the company. KeyCorp raised their price target on Applied Materials from $67.00 to $74.00 and gave the company an overweight rating in a report on Thursday. Deutsche Bank raised their price target on Applied Materials from $65.00 to $70.00 and gave the company a buy rating in a report on Thursday. Vetr cut Applied Materials from a buy rating to a hold rating and set a $61.08 price target for the company. in a report on Tuesday, November 21st. Nomura restated a buy rating and set a $65.00 price target (up previously from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Finally, Citigroup raised their price target on Applied Materials from $60.00 to $70.00 and gave the company a buy rating in a report on Monday, November 20th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Applied Materials presently has an average rating of Buy and a consensus target price of $63.84.
Applied Materials (NASDAQ AMAT) opened at $55.03 on Thursday. The firm has a market capitalization of $57,880.71, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.00 and a beta of 1.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. Applied Materials has a 1-year low of $34.72 and a 1-year high of $60.89.
Applied Materials declared that its board has initiated a share buyback plan on Wednesday, February 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s payout ratio is presently 15.09%.
In related news, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total value of $214,680.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LeJeune Puetz Investment Counsel LLC bought a new stake in Applied Materials during the 3rd quarter valued at $105,000. Financial Gravity Companies Inc. bought a new stake in Applied Materials during the 4th quarter valued at $110,000. Risk Paradigm Group LLC bought a new stake in Applied Materials during the 4th quarter valued at $110,000. Cerebellum GP LLC bought a new stake in Applied Materials during the 4th quarter valued at $122,000. Finally, First Personal Financial Services raised its position in Applied Materials by 281.5% during the 3rd quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors own 79.93% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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