Applied Materials (NASDAQ:AMAT) Price Target Increased to $151.00 by Analysts at KeyCorp

Applied Materials (NASDAQ:AMAT) had its target price increased by KeyCorp from $144.00 to $151.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have an overweight rating on the manufacturing equipment provider’s stock.

AMAT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft boosted their target price on Applied Materials from $140.00 to $150.00 in a research report on Tuesday. Needham & Company LLC boosted their target price on Applied Materials from $130.00 to $153.00 and gave the stock a buy rating in a research report on Wednesday. Evercore ISI boosted their target price on Applied Materials from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Friday, February 19th. DA Davidson boosted their target price on Applied Materials from $135.00 to $145.00 and gave the stock a buy rating in a research report on Friday, February 19th. Finally, JPMorgan Chase & Co. upped their price objective on Applied Materials from $88.00 to $146.00 and gave the stock an overweight rating in a report on Friday, February 19th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $140.36.

Shares of NASDAQ AMAT opened at $139.14 on Wednesday. The stock has a market cap of $127.68 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.06 and a beta of 1.48. Applied Materials has a fifty-two week low of $46.22 and a fifty-two week high of $146.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.12 and a current ratio of 3.00. The stock has a fifty day moving average of $120.69 and a 200-day moving average of $91.29.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.11. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. During the same period in the previous year, the business earned $0.98 earnings per share. On average, sell-side analysts predict that Applied Materials will post 4.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.69%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.22. Applied Materials’s dividend payout ratio is currently 21.10%.

In other news, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total value of $1,979,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Prestige Wealth Management Group LLC raised its position in shares of Applied Materials by 42.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after acquiring an additional 88 shares in the last quarter. Key Financial Inc purchased a new stake in shares of Applied Materials in the 4th quarter worth approximately $26,000. Paces Ferry Wealth Advisors LLC purchased a new stake in shares of Applied Materials in the 3rd quarter worth approximately $31,000. Curi Capital purchased a new stake in shares of Applied Materials in the 4th quarter worth approximately $31,000. Finally, Addison Advisors LLC purchased a new stake in shares of Applied Materials in the 4th quarter worth approximately $38,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Company Profile

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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