Applied Materials, Inc. (NASDAQ:AMAT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Applied Materials, Inc. (NASDAQ:AMAT) have been given a consensus recommendation of “Buy” by the twenty-eight brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, eighteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $68.50.

A number of analysts have recently weighed in on AMAT shares. UBS Group raised their price objective on Applied Materials from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. ValuEngine cut Applied Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, June 3rd. B. Riley upgraded Applied Materials from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $72.00 in a research note on Friday, May 15th. Wells Fargo & Co raised their target price on Applied Materials from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Finally, Cowen raised their target price on Applied Materials from $60.00 to $72.00 in a research note on Friday, May 15th.

In related news, Director Alexander Karsner sold 20,027 shares of Applied Materials stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $60.43, for a total value of $1,210,231.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Applied Materials by 9.3% in the 1st quarter. Bank of New York Mellon Corp now owns 17,861,988 shares of the manufacturing equipment provider’s stock valued at $818,438,000 after purchasing an additional 1,515,901 shares in the last quarter. Davis Selected Advisers boosted its holdings in Applied Materials by 8.4% in the 1st quarter. Davis Selected Advisers now owns 16,342,040 shares of the manufacturing equipment provider’s stock worth $748,792,000 after buying an additional 1,262,742 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Applied Materials by 9.3% in the 1st quarter. Nuveen Asset Management LLC now owns 14,977,988 shares of the manufacturing equipment provider’s stock worth $686,292,000 after buying an additional 1,269,297 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Applied Materials by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 14,645,853 shares of the manufacturing equipment provider’s stock worth $669,868,000 after buying an additional 123,740 shares during the last quarter. Finally, Parnassus Investments CA boosted its holdings in Applied Materials by 158.4% in the 1st quarter. Parnassus Investments CA now owns 13,693,901 shares of the manufacturing equipment provider’s stock worth $627,455,000 after buying an additional 8,393,901 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

AMAT stock traded down $0.09 during midday trading on Tuesday, reaching $64.33. 5,901,236 shares of the company traded hands, compared to its average volume of 5,467,960. Applied Materials has a 52-week low of $36.64 and a 52-week high of $69.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.89 and a current ratio of 2.67. The business has a 50 day moving average of $61.01 and a 200-day moving average of $56.53. The firm has a market capitalization of $58.96 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.24 and a beta of 1.40.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 14th. The manufacturing equipment provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. During the same quarter in the previous year, the business earned $0.70 earnings per share. Research analysts anticipate that Applied Materials will post 3.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. Applied Materials’s dividend payout ratio is presently 28.95%.

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.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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