Applied Materials (NASDAQ:AMAT) Upgraded at Nomura

Nomura upgraded shares of Applied Materials (NASDAQ:AMAT) from a neutral rating to a buy rating in a research note published on Friday morning, Briefing.com Automated Import reports. Nomura currently has $68.00 price objective on the manufacturing equipment provider’s stock, up from their previous price objective of $40.00.

Several other research firms have also issued reports on AMAT. Stifel Nicolaus lifted their price target on shares of Applied Materials from $57.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, November 12th. Zacks Investment Research upgraded shares of Applied Materials from a sell rating to a hold rating and set a $60.00 price target on the stock in a research report on Tuesday, October 29th. KeyCorp lifted their price target on shares of Applied Materials from $54.00 to $70.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank of Canada restated a buy rating and issued a $54.00 price target on shares of Applied Materials in a research report on Wednesday, August 14th. Finally, Deutsche Bank lifted their price target on shares of Applied Materials from $47.00 to $52.00 and gave the stock a hold rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Applied Materials currently has an average rating of Buy and a consensus price target of $62.91.

Shares of NASDAQ AMAT traded up $0.29 during mid-day trading on Friday, reaching $62.35. 10,412,800 shares of the company traded hands, compared to its average volume of 9,229,310. Applied Materials has a fifty-two week low of $28.79 and a fifty-two week high of $63.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.65 and a quick ratio of 1.72. The firm has a market cap of $52.62 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.45 and a beta of 1.66. The stock has a fifty day simple moving average of $53.95 and a 200-day simple moving average of $47.59.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.04. Applied Materials had a net margin of 18.52% and a return on equity of 35.17%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts predict that Applied Materials will post 3.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, November 20th. Applied Materials’s dividend payout ratio is 27.63%.

In related news, Director Dennis D. Powell sold 25,218 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total value of $1,297,213.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steve G. Ghanayem sold 25,727 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total transaction of $1,340,891.24. The disclosure for this sale can be found here. Insiders sold a total of 53,945 shares of company stock valued at $2,776,105 in the last ninety days. Company insiders own 0.44% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. JNBA Financial Advisors boosted its stake in shares of Applied Materials by 0.8% during the 2nd quarter. JNBA Financial Advisors now owns 24,070 shares of the manufacturing equipment provider’s stock valued at $1,081,000 after buying an additional 200 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Applied Materials by 5.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,837 shares of the manufacturing equipment provider’s stock valued at $181,000 after purchasing an additional 215 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Applied Materials by 3.9% in the 3rd quarter. Park Avenue Securities LLC now owns 6,564 shares of the manufacturing equipment provider’s stock valued at $328,000 after purchasing an additional 244 shares during the last quarter. Hartford Financial Management Inc. lifted its stake in shares of Applied Materials by 0.6% in the 2nd quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock valued at $1,926,000 after purchasing an additional 248 shares during the last quarter. Finally, ETRADE Capital Management LLC lifted its stake in shares of Applied Materials by 3.3% in the 2nd quarter. ETRADE Capital Management LLC now owns 7,725 shares of the manufacturing equipment provider’s stock valued at $347,000 after purchasing an additional 248 shares during the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.

About Applied Materials

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.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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