Wells Fargo & Company Increases Applied Materials (NASDAQ:AMAT) Price Target to $255.00

Applied Materials (NASDAQ:AMATFree Report) had its price objective raised by Wells Fargo & Company from $250.00 to $255.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the manufacturing equipment provider’s stock.

Several other analysts also recently issued reports on the stock. Bank of America increased their price objective on shares of Applied Materials from $222.00 to $250.00 and gave the company a buy rating in a research report on Friday. Stifel Nicolaus restated a buy rating and issued a $230.00 target price on shares of Applied Materials in a research note on Wednesday, May 15th. Morgan Stanley upped their price target on shares of Applied Materials from $142.00 to $190.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. TD Cowen raised their target price on Applied Materials from $245.00 to $250.00 and gave the company a buy rating in a research report on Friday. Finally, Susquehanna boosted their price target on shares of Applied Materials from $160.00 to $185.00 and gave the stock a neutral rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Applied Materials has an average rating of Moderate Buy and an average target price of $215.64.

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Applied Materials Trading Up 3.7 %

Shares of AMAT stock opened at $219.95 on Friday. The firm has a market cap of $182.76 billion, a P/E ratio of 25.28, a PEG ratio of 3.11 and a beta of 1.58. Applied Materials has a 1-year low of $120.18 and a 1-year high of $221.75. 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 firm’s 50-day simple moving average is $205.00 and its 200-day simple moving average is $180.01.

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

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 14.71%.

Institutional Trading of Applied Materials

Institutional investors have recently made changes to their positions in the stock. Redmont Wealth Advisors LLC acquired a new stake in shares of Applied Materials during the first quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $27,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Applied Materials during the first quarter worth approximately $35,000. Finally, RFP Financial Group LLC boosted its holdings in shares of Applied Materials by 96.6% during the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after purchasing an additional 85 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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