Applied Materials (NASDAQ:AMAT) Price Target Raised to $85.00 at Credit Suisse Group

Applied Materials (NASDAQ:AMAT) had its price objective raised by Credit Suisse Group from $70.00 to $85.00 in a research note published on Thursday, The Fly reports. Credit Suisse Group currently has an outperform rating on the manufacturing equipment provider’s stock.

AMAT has been the subject of a number of other research reports. Bank of America upgraded shares of Applied Materials from a neutral rating to a buy rating in a report on Friday, January 10th. Nomura raised their price objective on shares of Applied Materials from $68.00 to $75.00 and gave the company a buy rating in a report on Thursday, January 2nd. Citigroup raised their price objective on shares of Applied Materials from $70.00 to $76.00 and gave the company a buy rating in a report on Thursday. ICAP upgraded shares of Applied Materials from a neutral rating to a buy rating in a report on Friday, January 10th. Finally, Zacks Investment Research lowered shares of Applied Materials from a strong-buy rating to a hold rating and set a $66.00 price objective for the company. in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. Applied Materials currently has a consensus rating of Buy and a consensus price target of $71.04.

NASDAQ AMAT traded down $0.52 during trading hours on Thursday, reaching $66.85. The company’s stock had a trading volume of 8,094,968 shares, compared to its average volume of 7,525,363. The firm has a fifty day simple moving average of $61.78 and a 200-day simple moving average of $55.12. The stock has a market cap of $57.80 billion, a P/E ratio of 23.37, a P/E/G ratio of 2.01 and a beta of 1.64. Applied Materials has a 52 week low of $36.80 and a 52 week high of $69.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.30 and a quick ratio of 1.51.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.11 billion. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $0.81 EPS. On average, research analysts expect that Applied Materials will post 3.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, February 18th. Applied Materials’s dividend payout ratio (DPR) is 27.63%.

In related news, Director Stephen R. Forrest sold 3,000 shares of Applied Materials stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.86, for a total value of $188,580.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary E. Dickerson sold 1,000,000 shares of Applied Materials stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $61.11, for a total transaction of $61,110,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,053,000 shares of company stock valued at $64,335,080. Insiders own 0.41% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rosenbaum Jay D. lifted its stake in Applied Materials by 18.9% during the 4th quarter. Rosenbaum Jay D. now owns 8,498 shares of the manufacturing equipment provider’s stock valued at $519,000 after acquiring an additional 1,348 shares in the last quarter. Allworth Financial LP raised its stake in shares of Applied Materials by 8.2% during the 4th quarter. Allworth Financial LP now owns 4,531 shares of the manufacturing equipment provider’s stock worth $277,000 after purchasing an additional 342 shares during the period. BBVA USA Bancshares Inc. raised its stake in shares of Applied Materials by 6.0% during the 4th quarter. BBVA USA Bancshares Inc. now owns 35,473 shares of the manufacturing equipment provider’s stock worth $2,165,000 after purchasing an additional 2,008 shares during the period. HGK Asset Management Inc. bought a new stake in shares of Applied Materials during the 3rd quarter worth $5,090,000. Finally, Altium Wealth Management LLC bought a new stake in shares of Applied Materials during the 4th quarter worth $202,000. 79.81% 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.

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