JPMorgan Chase & Co. Boosts Applied Materials (NASDAQ:AMAT) Price Target to $250.00

Applied Materials (NASDAQ:AMAT) had its target price increased by JPMorgan Chase & Co. from $240.00 to $250.00 in a report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the manufacturing equipment provider’s stock.

Several other research firms have also commented on AMAT. Bank of America boosted their price target on Applied Materials from $222.00 to $250.00 and gave the stock a buy rating in a research report on Friday, May 17th. Raymond James increased their price target on shares of Applied Materials from $225.00 to $235.00 and gave the company an outperform rating in a research report on Friday, May 17th. Susquehanna lifted their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a neutral rating in a research report on Thursday, May 16th. TD Cowen increased their target price on shares of Applied Materials from $245.00 to $250.00 and gave the company a buy rating in a research report on Friday, May 17th. Finally, UBS Group cut their price target on shares of Applied Materials from $235.00 to $220.00 and set a neutral rating on the stock in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $233.14.

Applied Materials Stock Up 1.5 %

Shares of Applied Materials stock opened at $210.94 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The stock has a market cap of $174.65 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.45 and a beta of 1.56. The firm’s 50-day moving average is $222.16 and its two-hundred day moving average is $210.33. Applied Materials has a 1 year low of $129.21 and a 1 year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. As a group, research analysts expect that Applied Materials will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Insider Buying and Selling

In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now directly owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Teri A. Little sold 7,500 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares in the company, valued at approximately $16,767,230.24. The disclosure for this sale can be found here. Insiders sold a total of 89,827 shares of company stock valued at $21,382,560 over the last 90 days. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

Hedge funds have recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials in the 1st quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the second quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Applied Materials during the fourth quarter worth about $27,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials during the 2nd quarter worth about $28,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Applied Materials in the 1st quarter valued at about $35,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.