Shares of Applied Materials, Inc. (NASDAQ:AMAT) have been given an average recommendation of “Buy” by the twenty-seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $152.85.
AMAT has been the subject of a number of recent analyst reports. Daiwa Capital Markets assumed coverage on Applied Materials in a research note on Thursday, August 19th. They issued an “outperform” rating and a $140.00 price objective for the company. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a report on Tuesday, May 25th. Susquehanna Bancshares downgraded Applied Materials from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $170.00 to $160.00 in a report on Tuesday. Mizuho increased their target price on Applied Materials from $158.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, August 20th. Finally, Susquehanna cut Applied Materials from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $170.00 to $160.00 in a research report on Tuesday.
Shares of AMAT traded up $0.68 during trading hours on Wednesday, reaching $140.82. 287,747 shares of the company’s stock traded hands, compared to its average volume of 8,616,078. The stock has a market cap of $127.15 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44. The company has a current ratio of 2.98, a quick ratio of 2.17 and a debt-to-equity ratio of 0.45. The firm’s 50 day simple moving average is $135.24 and its 200-day simple moving average is $132.11. Applied Materials has a 12 month low of $54.15 and a 12 month high of $146.00.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Friday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 24th. This represents a $0.96 dividend on an annualized basis and a yield of 0.68%. Applied Materials’s dividend payout ratio (DPR) is currently 23.02%.
In other Applied Materials news, SVP Ginetto Addiego sold 40,000 shares of Applied Materials stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $134.83, for a total value of $5,393,200.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Omkaram Nalamasu sold 51,000 shares of Applied Materials stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $142.16, for a total transaction of $7,250,160.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,500 shares of company stock worth $16,042,275. 0.37% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Sunflower Bank N.A. purchased a new stake in Applied Materials during the 2nd quarter worth $392,000. Newbridge Financial Services Group Inc. increased its position in shares of Applied Materials by 8.4% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,481 shares of the manufacturing equipment provider’s stock worth $781,000 after purchasing an additional 426 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Applied Materials by 0.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,500,049 shares of the manufacturing equipment provider’s stock worth $640,807,000 after purchasing an additional 16,611 shares during the last quarter. Sawtooth Solutions LLC increased its position in shares of Applied Materials by 12.5% in the 2nd quarter. Sawtooth Solutions LLC now owns 9,133 shares of the manufacturing equipment provider’s stock worth $1,300,000 after purchasing an additional 1,013 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG increased its position in shares of Applied Materials by 0.6% in the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 230,920 shares of the manufacturing equipment provider’s stock worth $32,883,000 after purchasing an additional 1,332 shares during the last quarter. 75.37% of the stock is currently owned by hedge funds and other institutional investors.
About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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