Applied Materials (NASDAQ:AMAT) Price Target Raised to $43.00 at Morgan Stanley

Applied Materials (NASDAQ:AMAT) had its price target upped by Morgan Stanley from $40.00 to $43.00 in a research report report published on Friday, AnalystRatings.com reports. Morgan Stanley currently has an equal weight rating on the manufacturing equipment provider’s stock.

A number of other research firms have also recently commented on AMAT. KeyCorp decreased their target price on shares of Applied Materials from $56.00 to $54.00 and set an overweight rating on the stock in a research note on Friday. B. Riley upgraded shares of Applied Materials from a neutral rating to a buy rating and raised their target price for the stock from $46.00 to $54.00 in a research note on Friday, May 17th. Needham & Company LLC restated a buy rating and set a $52.00 target price on shares of Applied Materials in a research note on Sunday, May 19th. Wells Fargo & Co restated an outperform rating on shares of Applied Materials in a research note on Thursday, June 20th. Finally, Cowen restated an outperform rating and set a $55.00 target price (up previously from $53.00) on shares of Applied Materials in a research note on Friday. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $50.90.

NASDAQ AMAT opened at $46.63 on Friday. Applied Materials has a 12 month low of $28.79 and a 12 month high of $52.42. The stock has a market cap of $43.65 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 2.37 and a beta of 1.68. The company’s 50 day moving average is $47.10 and its two-hundred day moving average is $42.51. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the business earned $1.20 EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. Sell-side analysts forecast that Applied Materials will post 2.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio (DPR) is currently 18.88%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Squar Milner Financial Services LLC grew its holdings in shares of Applied Materials by 190.8% in the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock valued at $27,000 after purchasing an additional 458 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Applied Materials in the first quarter valued at $27,000. Horan Capital Advisors LLC. purchased a new position in shares of Applied Materials in the first quarter valued at $31,000. Cable Hill Partners LLC grew its holdings in shares of Applied Materials by 378.4% in the first quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock valued at $32,000 after purchasing an additional 632 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of Applied Materials in the first quarter valued at $33,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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: Day Trading

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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.