Applied Materials (NASDAQ:AMAT) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Applied Materials (NASDAQ:AMAT) in a research note issued to investors on Sunday, AnalystRatings.com reports. They currently have a $52.00 price objective on the manufacturing equipment provider’s stock.

Other analysts also recently issued research reports about the company. Susquehanna Bancshares raised Applied Materials from a neutral rating to a positive rating and lifted their target price for the company from $34.00 to $60.00 in a research report on Wednesday, May 15th. Cowen reaffirmed an outperform rating and issued a $55.00 target price (up previously from $53.00) on shares of Applied Materials in a research report on Friday, August 16th. Goldman Sachs Group downgraded Applied Materials from a buy rating to a neutral rating in a research report on Monday, July 22nd. Citigroup lifted their target price on Applied Materials from $51.00 to $52.00 and gave the company a buy rating in a research report on Friday, May 17th. Finally, UBS Group boosted their price target on Applied Materials from $45.00 to $49.00 and gave the stock a neutral rating in a research report on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Applied Materials currently has a consensus rating of Buy and an average target price of $51.00.

NASDAQ:AMAT opened at $46.83 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The stock’s 50-day simple moving average is $47.30 and its 200 day simple moving average is $42.65. The company has a market cap of $43.84 billion, a P/E ratio of 10.52, a P/E/G ratio of 2.36 and a beta of 1.68. Applied Materials has a 52-week low of $28.79 and a 52-week high of $52.42.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.53 billion. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. Applied Materials’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, equities analysts predict that Applied Materials will post 3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barings LLC grew its position in shares of Applied Materials by 130.4% in the second quarter. Barings LLC now owns 71,606 shares of the manufacturing equipment provider’s stock valued at $3,216,000 after purchasing an additional 40,531 shares during the last quarter. Colony Group LLC grew its position in shares of Applied Materials by 0.8% in the second quarter. Colony Group LLC now owns 50,530 shares of the manufacturing equipment provider’s stock valued at $2,269,000 after purchasing an additional 414 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Applied Materials by 96.9% in the second quarter. Harvest Fund Management Co. Ltd now owns 3,812 shares of the manufacturing equipment provider’s stock valued at $171,000 after purchasing an additional 1,876 shares during the last quarter. Prudential PLC grew its position in shares of Applied Materials by 266.5% in the second quarter. Prudential PLC now owns 22,721 shares of the manufacturing equipment provider’s stock valued at $1,022,000 after purchasing an additional 16,521 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Applied Materials by 10.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 100,352 shares of the manufacturing equipment provider’s stock valued at $4,511,000 after purchasing an additional 9,093 shares during the last quarter. 75.70% of the stock is currently 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.

Featured Article: Special Dividends

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.