Applied Materials, Inc. (NASDAQ:AMAT) Received Consensus Recommendation to “Buy” Brokers
Applied Materials, Inc. (NASDAQ:AMAT) stock has earned an average rating of “Buy” from the thirty rating agencies that currently cover the company, Marketbeat reports. Seven analysts gave the stock a hold rating and eighteen gave the company a buy rating. The 1-year average price target among brokers who have issued ratings on the stock in the past year is $168.03.
Several research analysts commented on the title. DA Davidson raised his price target on Applied Materials shares from $165.00 to $175.00 and gave the stock a “buy” rating in a Friday, Nov. 19 research note. KeyCorp began covering Applied Materials stocks in a research note on Tuesday, January 25. They set a “sector weight” rating for the company. Mizuho raised his price target on Applied Materials shares from $161.00 to $178.00 in a Thursday, January 13 research note. Needham & Company LLC raised its price target on Applied Materials shares from $153.00 to $166.00 and gave the company a “buy” rating in a Friday, Nov. 19 research note. Finally, Piper Sandler assumed the coverage of applied materials in a Thursday, October 14, report. They issued a “neutral” rating and a price target of $130.00 for the company.
In other news, CEO Gary E. Dickerson sold 300,000 shares of the company in a trade that took place on Wednesday, December 1. The stock was sold at an average price of $152.79, for a total transaction of $45,837,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Company insiders own 0.30% of the company’s shares.
Hedge funds have recently changed their positions in the business. Capital World Investors increased its stake in Applied Materials by 3.6% in the third quarter. Capital World Investors now owns 26,260,338 shares of the manufacturing equipment supplier worth $3,380,486,000 after buying an additional 908,866 shares in the last quarter. Capital International Investors increased its stake in Applied Materials by 5.8% in the second quarter. Capital International Investors now owns 18,742,933 shares of the manufacturing equipment supplier worth $2,668,988,000 after buying an additional 1,022,540 shares in the last quarter. Geode Capital Management LLC increased its stake in Applied Materials by 13.1% in the third quarter. Geode Capital Management LLC now owns 16,953,802 shares of the manufacturing equipment supplier worth $2,177,497,000 after purchasing an additional 1,958,477 shares in the last quarter. Parnassus Investments LLC increased its stake in Applied Materials by 5.7% in the third quarter. Parnassus Investments LLC now owns 7,084,784 shares of the manufacturing equipment supplier worth $912,024,000 after purchasing an additional 381,189 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Applied Materials by 12.1% in the third quarter. Deutsche Bank AG now owns 6,930,298 shares of the manufacturing equipment supplier valued at $892,136,000 after buying an additional 747,990 shares in the last quarter. 77.06% of the shares are held by institutional investors and hedge funds.
AMAT stock opened at $135.57 on Friday. The company has a debt ratio of 0.45, a quick ratio of 1.86 and a current ratio of 2.54. The company has a fifty-day moving average price of $149.42 and a 200-day moving average price of $142.01. The company has a market capitalization of $120.39 billion, a PE ratio of 21.15, a growth price-earnings ratio of 1.44 and a beta of 1.41. Applied Materials has a fifty-two week low of $100.69 and a fifty-two week high of $167.06.
Applied Materials Inc (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 18. The manufacturing equipment supplier reported EPS of $1.94 for the quarter, missing the consensus estimate of $1.95 per ($0.01). The company posted revenue of $6.12 billion for the quarter, versus $6.34 billion expected by analysts. Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The company’s quarterly revenue increased by 30.5% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $1.25. On average, stock analysts predict Applied Materials will post an EPS of 8.15 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 16. Shareholders of record on Wednesday, February 23 will receive a dividend of $0.24. The ex-dividend date is Tuesday, February 22. This represents an annualized dividend of $0.96 and a yield of 0.71%. Applied Materials’ dividend payout ratio is currently 14.98%.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the semiconductor, display and related industries. It operates through the following segments: Semiconductor Systems, Global Applied Services and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital goods for etching, rapid heat treatment, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging and implantation ionic.
See also: G-20
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