Applied Materials (NASDAQ:AMAT) PT Raised to $130.00 at Sanford C. Bernstein

Applied Materials (NASDAQ:AMATGet Rating) had its target price lifted by Sanford C. Bernstein to $130.00 in a research report report published on Monday morning, Stock Target Advisor reports.

A number of other equities analysts have also commented on AMAT. Mizuho raised their price objective on shares of Applied Materials from $90.00 to $115.00 and gave the company a buy rating in a research report on Friday, November 18th. Evercore ISI raised their price objective on shares of Applied Materials from $100.00 to $120.00 and gave the company an outperform rating in a research report on Friday, November 18th. JPMorgan Chase & Co. raised their price objective on shares of Applied Materials from $115.00 to $120.00 and gave the company an overweight rating in a research report on Friday, November 18th. Cowen raised their price objective on shares of Applied Materials from $100.00 to $135.00 and gave the company an outperform rating in a research report on Friday, November 18th. Finally, Citigroup cut their price objective on shares of Applied Materials from $150.00 to $135.00 and set a buy rating for the company in a research report on Thursday, November 17th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $120.64.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $107.67 on Monday. The company has a quick ratio of 1.35, a current ratio of 2.16 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $92.63 billion, a PE ratio of 14.47, a P/E/G ratio of 1.71 and a beta of 1.49. Applied Materials has a twelve month low of $71.12 and a twelve month high of $167.06. The company has a 50-day moving average price of $89.50 and a two-hundred day moving average price of $97.16.

Applied Materials (NASDAQ:AMATGet Rating) last issued its earnings results on Thursday, November 17th. The manufacturing equipment provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.30. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.44 billion. Applied Materials had a net margin of 25.31% and a return on equity of 56.62%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $1.94 earnings per share. Equities analysts forecast that Applied Materials will post 6.84 EPS for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, November 23rd. Applied Materials’s dividend payout ratio is 13.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its holdings in Applied Materials by 0.5% in the first quarter. State Street Corp now owns 40,177,420 shares of the manufacturing equipment provider’s stock valued at $5,295,384,000 after acquiring an additional 192,537 shares in the last quarter. Capital World Investors raised its position in Applied Materials by 21.5% in the 1st quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock worth $4,461,584,000 after buying an additional 5,980,777 shares during the last quarter. Capital International Investors raised its position in Applied Materials by 6.9% in the 1st quarter. Capital International Investors now owns 24,875,796 shares of the manufacturing equipment provider’s stock worth $3,278,728,000 after buying an additional 1,607,427 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Applied Materials by 1.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,122,174 shares of the manufacturing equipment provider’s stock worth $829,935,000 after buying an additional 154,413 shares during the last quarter. Finally, Parnassus Investments LLC raised its position in Applied Materials by 1.1% in the 1st quarter. Parnassus Investments LLC now owns 7,066,179 shares of the manufacturing equipment provider’s stock worth $931,322,000 after buying an additional 76,909 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.

About Applied Materials

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Applied Materials, Inc engages in the provision of 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.

Further Reading

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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