Applied Materials (NASDAQ:AMAT) Price Target Increased to $78.00 by Analysts at Wells Fargo & Co

Applied Materials (NASDAQ:AMAT) had its price objective upped by Wells Fargo & Co from $70.00 to $78.00 in a report published on Thursday morning, BenzingaRatingsTable reports. They currently have a positive rating on the manufacturing equipment provider’s stock.

AMAT has been the subject of a number of other research reports. Craig Hallum upped their price objective on shares of Applied Materials from $58.00 to $70.00 and gave the company a buy rating in a research note on Friday, November 15th. Berenberg Bank reaffirmed a buy rating and issued a $65.00 price objective on shares of Applied Materials in a research note on Friday, November 22nd. BidaskClub raised shares of Applied Materials from a hold rating to a buy rating in a research note on Friday, February 7th. Nomura upped their price objective on shares of Applied Materials from $68.00 to $75.00 and gave the company a buy rating in a research note on Thursday, January 2nd. Finally, Susquehanna Bancshares reaffirmed a buy rating and issued a $80.00 price objective (up previously from $70.00) on shares of Applied Materials in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $71.04.

AMAT stock traded down $0.52 during midday trading on Thursday, reaching $66.85. The company had a trading volume of 8,094,968 shares, compared to its average volume of 7,525,363. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.30 and a quick ratio of 1.51. Applied Materials has a 1 year low of $36.80 and a 1 year high of $69.44. The company has a market capitalization of $57.80 billion, a P/E ratio of 23.37, a P/E/G ratio of 2.01 and a beta of 1.64. The firm has a 50-day moving average price of $61.78 and a 200-day moving average price of $55.12.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.06. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts predict that Applied Materials will post 3.82 EPS for the current year.

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

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Generation Investment Management LLP raised its holdings in Applied Materials by 0.8% in the 3rd quarter. Generation Investment Management LLP now owns 4,600,194 shares of the manufacturing equipment provider’s stock worth $229,550,000 after purchasing an additional 35,644 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Applied Materials by 16.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,279,509 shares of the manufacturing equipment provider’s stock worth $261,221,000 after purchasing an additional 594,365 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Applied Materials by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,092,517 shares of the manufacturing equipment provider’s stock worth $249,808,000 after purchasing an additional 38,389 shares in the last quarter. Prudential Financial Inc. raised its holdings in Applied Materials by 135.0% in the 4th quarter. Prudential Financial Inc. now owns 3,928,533 shares of the manufacturing equipment provider’s stock worth $239,797,000 after purchasing an additional 2,256,830 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Applied Materials by 5.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,844,446 shares of the manufacturing equipment provider’s stock worth $191,838,000 after purchasing an additional 213,638 shares in the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.

Applied Materials Company Profile

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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