Applied Materials (NASDAQ:AMAT – Free Report) had its price objective hoisted by Mizuho from $162.00 to $167.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the manufacturing equipment provider’s stock.
Several other research analysts have also weighed in on AMAT. Berenberg Bank increased their target price on shares of Applied Materials from $150.00 to $175.00 and gave the stock a buy rating in a research note on Friday, August 18th. TD Cowen raised their price objective on shares of Applied Materials from $160.00 to $165.00 and gave the stock an outperform rating in a report on Friday. Sanford C. Bernstein raised their price objective on shares of Applied Materials from $150.00 to $175.00 and gave the stock an outperform rating in a report on Friday, August 18th. Susquehanna raised their price objective on shares of Applied Materials from $112.00 to $128.00 and gave the stock a neutral rating in a report on Monday, August 21st. Finally, Evercore ISI cut their price objective on shares of Applied Materials from $175.00 to $160.00 in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $161.29.
Applied Materials Stock Performance
Applied Materials (NASDAQ:AMAT – Get Free Report) last released its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.14. Applied Materials had a net margin of 24.27% and a return on equity of 49.29%. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Applied Materials will post 7.9 earnings per share for the current year.
Applied Materials Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. Applied Materials’s payout ratio is 16.89%.
Insider Transactions at Applied Materials
In other news, CFO Brice Hill sold 1,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $150.04, for a total value of $150,040.00. Following the completion of the transaction, the chief financial officer now owns 106,023 shares of the company’s stock, valued at $15,907,690.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.
Institutional Investors Weigh In On Applied Materials
Several hedge funds have recently modified their holdings of the stock. Chelsea Counsel Co. purchased a new stake in Applied Materials in the 1st quarter worth about $28,000. CHICAGO TRUST Co NA increased its holdings in shares of Applied Materials by 9.6% during the 2nd quarter. CHICAGO TRUST Co NA now owns 3,451 shares of the manufacturing equipment provider’s stock valued at $499,000 after acquiring an additional 303 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Applied Materials by 31,565.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 555,090 shares of the manufacturing equipment provider’s stock valued at $80,233,000 after acquiring an additional 553,337 shares during the last quarter. Secure Asset Management LLC increased its holdings in shares of Applied Materials by 3.8% during the 2nd quarter. Secure Asset Management LLC now owns 8,170 shares of the manufacturing equipment provider’s stock valued at $1,181,000 after acquiring an additional 302 shares during the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of Applied Materials by 8.3% during the 2nd quarter. Claro Advisors LLC now owns 5,370 shares of the manufacturing equipment provider’s stock valued at $776,000 after acquiring an additional 411 shares during the last quarter. 77.24% 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. 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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