Wells Fargo & Co reissued their positive rating on shares of Applied Materials (NASDAQ:AMAT) in a report published on Wednesday, AnalystRatings.com reports. The firm currently has a $58.00 price target on the manufacturing equipment provider’s stock, up from their prior price target of $52.00.

Several other research analysts have also issued reports on AMAT. Susquehanna Bancshares set a $60.00 target price on Applied Materials and gave the stock a buy rating in a research report on Friday, August 16th. BidaskClub raised Applied Materials from a hold rating to a buy rating in a research report on Saturday, September 7th. Craig Hallum raised Applied Materials from a hold rating to a buy rating in a research report on Friday, August 16th. Nomura set a $40.00 target price on Applied Materials and gave the stock a hold rating in a research report on Friday, August 16th. Finally, Goldman Sachs Group lowered Applied Materials from a buy rating to a neutral rating in a research report on Monday, July 22nd. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $51.48.

Shares of AMAT opened at $50.96 on Wednesday. Applied Materials has a 52 week low of $28.79 and a 52 week high of $52.62. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 3.45 and a beta of 1.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The stock has a fifty day moving average of $48.15 and a 200-day moving average of $44.03.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. Applied Materials’s revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. As a group, equities analysts forecast that Applied Materials will post 3 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. Applied Materials’s payout ratio is currently 18.88%.

In other Applied Materials news, Director Dennis D. Powell sold 25,218 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $51.44, for a total transaction of $1,297,213.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen R. Forrest sold 3,000 shares of the 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.

Institutional investors have recently modified their holdings of the business. River & Mercantile Asset Management LLP grew its stake in shares of Applied Materials by 0.4% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 136,190 shares of the manufacturing equipment provider’s stock valued at $6,118,000 after buying an additional 500 shares during the period. Princeton Global Asset Management LLC grew its stake in shares of Applied Materials by 129.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 1,606 shares of the manufacturing equipment provider’s stock valued at $72,000 after buying an additional 906 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Applied Materials by 9.0% in the 2nd quarter. Rehmann Capital Advisory Group now owns 12,334 shares of the manufacturing equipment provider’s stock valued at $554,000 after buying an additional 1,018 shares during the period. Nomura Holdings Inc. grew its stake in shares of Applied Materials by 93.2% in the 2nd quarter. Nomura Holdings Inc. now owns 373,164 shares of the manufacturing equipment provider’s stock valued at $16,987,000 after buying an additional 180,035 shares during the period. Finally, Hodges Capital Management Inc. grew its stake in shares of Applied Materials by 11.4% in the 2nd quarter. Hodges Capital Management Inc. now owns 54,916 shares of the manufacturing equipment provider’s stock valued at $2,466,000 after buying an additional 5,612 shares during the period. Hedge funds and other institutional investors own 78.68% 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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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