Applied Materials (NASDAQ:AMAT) Lifted to Buy at BidaskClub
A number of other research firms have also recently weighed in on AMAT. B. Riley set a $54.00 target price on shares of Applied Materials and gave the company a buy rating in a research note on Friday, August 16th. UBS Group increased their price target on Applied Materials from $45.00 to $49.00 and gave the stock a neutral rating in a research note on Friday, May 17th. Craig Hallum upgraded Applied Materials from a hold rating to a buy rating in a research note on Friday, August 16th. Nomura set a $40.00 price target on Applied Materials and gave the company a hold rating in a report on Friday, August 16th. Finally, Goldman Sachs Group downgraded Applied Materials from a buy rating to a neutral rating in a research report on Monday, July 22nd. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $51.00.
Shares of NASDAQ:AMAT opened at $50.19 on Friday. The stock has a 50 day moving average of $48.06 and a 200 day moving average of $43.48. The company has a market cap of $46.80 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 3.34 and a beta of 1.66. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. Applied Materials has a 12-month low of $28.79 and a 12-month high of $52.42.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.67%. Applied Materials’s payout ratio is 18.88%.
In related news, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen R. Forrest sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total value of $138,000.00. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in Applied Materials by 34.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 28,351,337 shares of the manufacturing equipment provider’s stock valued at $1,273,259,000 after purchasing an additional 7,230,052 shares in the last quarter. FMR LLC increased its stake in Applied Materials by 16.3% during the first quarter. FMR LLC now owns 26,027,352 shares of the manufacturing equipment provider’s stock worth $1,032,245,000 after acquiring an additional 3,656,960 shares during the last quarter. Invesco Ltd. increased its stake in Applied Materials by 72.2% during the second quarter. Invesco Ltd. now owns 25,611,081 shares of the manufacturing equipment provider’s stock worth $1,150,193,000 after acquiring an additional 10,735,173 shares during the last quarter. Davis Selected Advisers raised its position in Applied Materials by 2.4% during the second quarter. Davis Selected Advisers now owns 15,880,737 shares of the manufacturing equipment provider’s stock valued at $713,204,000 after purchasing an additional 364,769 shares during the period. Finally, Geode Capital Management LLC raised its position in Applied Materials by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock valued at $459,453,000 after purchasing an additional 794,347 shares during the period. Institutional investors and hedge funds own 79.88% of the company’s stock.
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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