Susquehanna Bancshares upgraded shares of Applied Materials (NASDAQ:AMAT) from a neutral rating to a positive rating in a research note released on Wednesday morning, BenzingaRatingsTable reports. They currently have $60.00 target price on the manufacturing equipment provider’s stock, up from their prior target price of $34.00.
AMAT has been the topic of a number of other reports. BidaskClub downgraded Applied Materials from a hold rating to a sell rating in a report on Friday, May 10th. ValuEngine downgraded Applied Materials from a hold rating to a sell rating in a report on Monday, February 4th. Stifel Nicolaus decreased their price objective on Applied Materials from $63.00 to $53.00 and set a buy rating on the stock in a report on Monday, February 11th. Argus reaffirmed a buy rating on shares of Applied Materials in a report on Tuesday, February 19th. Finally, Zacks Investment Research raised Applied Materials from a sell rating to a hold rating in a report on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. Applied Materials has an average rating of Buy and an average price target of $51.00.
NASDAQ AMAT traded up $0.40 during trading on Wednesday, reaching $41.90. 356,878 shares of the company traded hands, compared to its average volume of 10,286,231. The company has a current ratio of 2.72, a quick ratio of 1.74 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $37.11 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 1.64 and a beta of 1.66. Applied Materials has a 1-year low of $28.79 and a 1-year high of $55.46.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.71 billion. Applied Materials had a return on equity of 58.28% and a net margin of 23.50%. The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 earnings per share. On average, analysts predict that Applied Materials will post 2.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be issued a $0.21 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s payout ratio is presently 17.98%.
In other news, insider Omkaram Nalamasu sold 143,255 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $40.73, for a total value of $5,834,776.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Steve G. Ghanayem sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total value of $1,067,500.00. The disclosure for this sale can be found here. Insiders sold a total of 170,255 shares of company stock worth $6,987,176 over the last three months. 0.44% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of AMAT. Inscription Capital LLC acquired a new position in Applied Materials during the 1st quarter worth $25,000. Squar Milner Financial Services LLC lifted its holdings in Applied Materials by 190.8% during the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after buying an additional 458 shares in the last quarter. Sontag Advisory LLC acquired a new position in Applied Materials during the 4th quarter worth $30,000. Bruderman Asset Management LLC acquired a new position in Applied Materials during the 4th quarter worth $31,000. Finally, Lenox Wealth Advisors LLC lifted its holdings in Applied Materials by 73.7% during the 1st quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock worth $31,000 after buying an additional 331 shares in the last quarter. 78.26% of the stock is currently owned by hedge funds and other institutional investors.
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.
Read More: Discount Rate
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.