Applied Materials (NASDAQ:AMAT) had its price target raised by equities researchers at Stifel Nicolaus from $71.00 to $75.00 in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the manufacturing equipment provider’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 38.99% from the stock’s current price.
Several other research firms also recently weighed in on AMAT. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, February 19th. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.08 target price on the stock. in a research report on Tuesday, April 17th. Bank of America initiated coverage on Applied Materials in a research report on Wednesday, March 21st. They set a “buy” rating and a $80.00 target price on the stock. ValuEngine upgraded Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Credit Suisse Group increased their target price on Applied Materials from $72.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.36.
Shares of NASDAQ:AMAT opened at $53.96 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62. Applied Materials has a 52-week low of $54.26 and a 52-week high of $55.46. The firm has a market capitalization of $57.97 billion, a PE ratio of 16.60, a P/E/G ratio of 0.94 and a beta of 1.65.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same period in the prior year, the company earned $0.79 EPS. equities analysts anticipate that Applied Materials will post 4.41 EPS for the current fiscal year.
Applied Materials announced that its Board of Directors has approved a stock buyback program on Wednesday, February 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Applied Materials news, Director Thomas J. Iannotti sold 15,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the completion of the sale, the director now directly owns 76,967 shares in the company, valued at $4,731,161.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.
Large investors have recently made changes to their positions in the business. Financial Gravity Companies Inc. acquired a new stake in shares of Applied Materials in the fourth quarter valued at about $110,000. Risk Paradigm Group LLC acquired a new stake in shares of Applied Materials in the fourth quarter valued at about $110,000. Shine Investment Advisory Services Inc. grew its stake in shares of Applied Materials by 368.3% in the first quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock valued at $114,000 after buying an additional 1,617 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of Applied Materials in the fourth quarter valued at about $122,000. Finally, SevenBridge Financial Group LLC grew its stake in shares of Applied Materials by 957.8% in the fourth quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock valued at $122,000 after buying an additional 2,155 shares in the last quarter. Institutional investors own 78.49% of the company’s stock.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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