Shares of Applied Materials, Inc. (NASDAQ:AMAT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $48.22 and last traded at $48.24, with a volume of 6,397,200 shares trading hands. The stock had previously closed at $47.14.

A number of analysts have issued reports on AMAT shares. Stifel Nicolaus lifted their target price on shares of Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Sunday, May 21st. Credit Suisse Group reiterated a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 29th. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price for the company in a research note on Thursday, June 29th. Instinet reiterated a “buy” rating and issued a $47.00 target price (up from $40.00) on shares of Applied Materials in a research note on Sunday, May 21st. Finally, Needham & Company LLC lifted their target price on shares of Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Sunday, May 21st. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus price target of $51.86.

The firm has a market cap of $51.44 billion, a PE ratio of 17.15 and a beta of 1.81. The stock’s 50 day moving average is $44.31 and its 200 day moving average is $42.57.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 32.7% on a year-over-year basis. On average, equities research analysts forecast that Applied Materials, Inc. will post $3.20 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is currently 14.18%.

In other news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Bank of Australia lifted its holdings in shares of Applied Materials by 2.7% during the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock worth $3,632,000 after buying an additional 2,279 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of Applied Materials during the first quarter worth $4,956,000. Karp Capital Management Corp acquired a new stake in shares of Applied Materials during the first quarter worth $17,549,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Applied Materials during the second quarter worth $2,082,000. Finally, Outfitter Advisors LTD. lifted its holdings in shares of Applied Materials by 1.5% during the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after buying an additional 600 shares in the last quarter. 79.47% of the stock is owned by institutional investors.

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Applied Materials Company Profile

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