Applied Materials, Inc. (AMAT) Given New $64.00 Price Target at Royal Bank Of Canada
Applied Materials, Inc. (NASDAQ:AMAT) had its price objective hoisted by Royal Bank Of Canada from $55.00 to $64.00 in a research report report published on Friday. They currently have an outperform rating on the manufacturing equipment provider’s stock.
Several other research firms also recently weighed in on AMAT. B. Riley reaffirmed a buy rating and issued a $61.00 price target on shares of Applied Materials in a research note on Saturday, August 19th. Instinet reaffirmed a buy rating and issued a $55.00 price target (up from $50.00) on shares of Applied Materials in a research note on Saturday, September 30th. Craig Hallum reaffirmed a buy rating and issued a $76.00 price target (up from $60.00) on shares of Applied Materials in a research note on Thursday, September 28th. Stifel Nicolaus reaffirmed a buy rating on shares of Applied Materials in a research note on Sunday, October 1st. Finally, Vetr raised shares of Applied Materials from a buy rating to a strong-buy rating and set a $48.16 price target for the company in a research note on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Applied Materials currently has a consensus rating of Buy and an average target price of $59.35.
Applied Materials (NASDAQ:AMAT) traded down $1.35 during mid-day trading on Friday, reaching $56.49. 27,143,170 shares of the company traded hands, compared to its average volume of 9,864,950. The firm has a market capitalization of $61,690.00, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.85. The company has a current ratio of 2.91, a quick ratio of 2.25 and a debt-to-equity ratio of 0.61. Applied Materials has a 1-year low of $29.85 and a 1-year high of $60.89.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. Applied Materials’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. equities analysts anticipate that Applied Materials will post 3.22 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s payout ratio is 14.18%.
In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMAT. Janus Henderson Group PLC boosted its stake in Applied Materials by 390.4% in the second quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock valued at $472,835,000 after acquiring an additional 9,112,328 shares during the last quarter. Swedbank purchased a new position in Applied Materials in the second quarter valued at about $135,363,000. Egerton Capital UK LLP boosted its stake in Applied Materials by 23.2% in the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after acquiring an additional 3,184,994 shares during the last quarter. Capital Research Global Investors boosted its stake in Applied Materials by 14.8% in the second quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after acquiring an additional 2,284,836 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in Applied Materials by 108.7% in the second quarter. Parametric Portfolio Associates LLC now owns 3,690,615 shares of the manufacturing equipment provider’s stock valued at $152,459,000 after acquiring an additional 1,922,233 shares during the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.
About Applied Materials
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