Applied Materials (NASDAQ:AMAT) Price Target Raised to $51.00 at UBS Group

Applied Materials (NASDAQ:AMAT) had its target price boosted by UBS Group from $48.00 to $51.00 in a research note issued to investors on Thursday, AnalystRatings.com reports. UBS Group currently has a sell rating on the manufacturing equipment provider’s stock.

A number of other brokerages have also issued reports on AMAT. Bank of America raised Applied Materials from a neutral rating to a buy rating in a research note on Friday, January 10th. Morgan Stanley increased their price target on Applied Materials from $68.00 to $69.00 and gave the company an equal weight rating in a research note on Monday. Citigroup increased their price target on Applied Materials from $70.00 to $76.00 and gave the company a buy rating in a research note on Thursday. Craig Hallum increased their price target on Applied Materials from $58.00 to $70.00 and gave the company a buy rating in a research note on Friday, November 15th. Finally, Cowen increased their price target on Applied Materials from $75.00 to $78.00 and gave the company an outperform rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $71.04.

AMAT traded down $0.52 during trading hours on Thursday, hitting $66.85. The company’s stock had a trading volume of 8,094,968 shares, compared to its average volume of 7,525,363. Applied Materials has a fifty-two week low of $36.80 and a fifty-two week high of $69.44. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $57.80 billion, a PE ratio of 23.37, a PEG ratio of 2.01 and a beta of 1.64. The company has a 50-day simple moving average of $61.78 and a 200 day simple moving average of $55.12.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.11 billion. Applied Materials had a return on equity of 35.13% and a net margin of 18.52%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. Research analysts expect that Applied Materials will post 3.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Applied Materials’s dividend payout ratio is presently 27.63%.

In other news, Director Stephen R. Forrest sold 3,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.86, for a total transaction of $188,580.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary E. Dickerson sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $61.11, for a total value of $61,110,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,053,000 shares of company stock valued at $64,335,080. Corporate insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth $27,000. Altshuler Shaham Ltd raised its holdings in shares of Applied Materials by 7,516.7% during the fourth quarter. Altshuler Shaham Ltd now owns 457 shares of the manufacturing equipment provider’s stock worth $28,000 after acquiring an additional 451 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Applied Materials during the third quarter worth $29,000. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of Applied Materials during the fourth quarter worth $29,000. Finally, Cedar Wealth Management LLC purchased a new stake in shares of Applied Materials during the fourth quarter worth $34,000. 79.81% of the stock is owned by institutional investors and hedge funds.

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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