Applied Materials (NASDAQ:AMAT) Raised to Buy at Goldman Sachs Group

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Goldman Sachs Group upgraded shares of Applied Materials (NASDAQ:AMAT) from a neutral rating to a buy rating in a research report report published on Sunday morning, BenzingaRatingsTable reports. They currently have $56.00 price target on the manufacturing equipment provider’s stock, up from their prior price target of $48.00.

AMAT has been the topic of a number of other reports. Zacks Investment Research upgraded Investar from a hold rating to a buy rating and set a $27.00 target price on the stock in a research note on Tuesday, June 4th. Citigroup set a $8.00 target price on Diamond Offshore Drilling and gave the stock a sell rating in a research note on Friday, May 17th. Susquehanna Bancshares started coverage on MKS Instruments in a research note on Wednesday, May 15th. They set a positive rating and a $123.00 target price on the stock. Needham & Company LLC restated a buy rating and issued a $52.00 price objective on shares of Applied Materials in a research note on Sunday, May 19th. Finally, Craig Hallum cut Cray from a buy rating to a hold rating in a research note on Friday, May 17th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Applied Materials currently has an average rating of Buy and a consensus price target of $50.52.

NASDAQ AMAT opened at $51.03 on Friday. The company has a market cap of $44.76 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.69. Applied Materials has a one year low of $28.79 and a one year high of $51.32. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $44.09.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Equities research analysts forecast that Applied Materials will post 2.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, August 21st. Applied Materials’s dividend payout ratio is currently 18.88%.

A number of institutional investors have recently made changes to their positions in the stock. Evermay Wealth Management LLC grew its holdings in shares of Applied Materials by 4.1% during the first quarter. Evermay Wealth Management LLC now owns 6,409 shares of the manufacturing equipment provider’s stock worth $254,000 after purchasing an additional 250 shares in the last quarter. Institutional & Family Asset Management LLC boosted its stake in Applied Materials by 16.3% in the first quarter. Institutional & Family Asset Management LLC now owns 1,866 shares of the manufacturing equipment provider’s stock worth $74,000 after buying an additional 262 shares in the last quarter. West Oak Capital LLC boosted its stake in Applied Materials by 6.7% in the first quarter. West Oak Capital LLC now owns 4,405 shares of the manufacturing equipment provider’s stock worth $175,000 after buying an additional 275 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in Applied Materials by 2.0% in the second quarter. Regentatlantic Capital LLC now owns 14,722 shares of the manufacturing equipment provider’s stock worth $661,000 after buying an additional 294 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in Applied Materials by 6.8% in the first quarter. Flagship Harbor Advisors LLC now owns 4,706 shares of the manufacturing equipment provider’s stock worth $186,000 after buying an additional 298 shares in the last quarter. Institutional investors and hedge funds own 77.60% 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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