Applied Materials (NASDAQ:AMAT) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Applied Materials (NASDAQ:AMATFree Report) in a research note issued to investors on Friday, Benzinga reports. They currently have a $260.00 price objective on the manufacturing equipment provider’s stock. Cantor Fitzgerald also issued estimates for Applied Materials’ FY2024 earnings at $8.37 EPS.

Several other research firms also recently commented on AMAT. Bank of America lifted their price target on shares of Applied Materials from $222.00 to $250.00 and gave the stock a buy rating in a research note on Friday. Jefferies Financial Group downgraded shares of Applied Materials from a buy rating to a hold rating and decreased their price target for the stock from $215.00 to $210.00 in a research note on Monday, May 13th. Mizuho lifted their price target on shares of Applied Materials from $225.00 to $245.00 and gave the stock a buy rating in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Applied Materials in a research note on Thursday, April 11th. They set a hold rating and a $225.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Applied Materials from $156.00 to $220.00 and gave the stock a buy rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials has a consensus rating of Moderate Buy and a consensus price target of $215.64.

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Applied Materials Trading Up 3.7 %

Shares of Applied Materials stock opened at $219.95 on Friday. Applied Materials has a 1 year low of $120.18 and a 1 year high of $221.75. The firm has a market cap of $182.76 billion, a PE ratio of 25.28, a PEG ratio of 3.11 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The company has a 50 day simple moving average of $205.00 and a two-hundred day simple moving average of $180.01.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period in the previous year, the business posted $2.00 earnings per share. Applied Materials’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that Applied Materials will post 8.19 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.73%. Applied Materials’s dividend payout ratio is 14.71%.

Institutional Trading of Applied Materials

Hedge funds and other institutional investors have recently modified their holdings of the business. Redmont Wealth Advisors LLC purchased a new stake in shares of Applied Materials in the 1st quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Applied Materials during the 4th quarter valued at about $27,000. Global Wealth Management Investment Advisory Inc. grew its position in Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in Applied Materials during the 1st quarter valued at about $35,000. Finally, RFP Financial Group LLC grew its position in Applied Materials by 96.6% during the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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. The company 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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