Applied Materials (NASDAQ:AMAT) had its target price upped by B. Riley from $71.00 to $74.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the manufacturing equipment provider’s stock. B. Riley also issued estimates for Applied Materials’ Q2 2020 earnings at $1.04 EPS, Q3 2020 earnings at $1.04 EPS, Q4 2020 earnings at $1.13 EPS, Q1 2021 earnings at $0.96 EPS, Q2 2021 earnings at $1.07 EPS, Q3 2021 earnings at $1.14 EPS, Q4 2021 earnings at $1.19 EPS and FY2022 earnings at $5.66 EPS.
Several other equities analysts have also commented on the company. Zacks Investment Research lowered Applied Materials from a strong-buy rating to a hold rating and set a $66.00 target price for the company. in a research note on Tuesday, January 21st. Craig Hallum upped their target price on Applied Materials from $58.00 to $70.00 and gave the company a buy rating in a research note on Friday, November 15th. Bank of America upgraded Applied Materials from a neutral rating to a buy rating in a research note on Friday, January 10th. ValuEngine lowered Applied Materials from a hold rating to a sell rating in a research note on Friday, January 3rd. Finally, Credit Suisse Group upped their target price on Applied Materials from $70.00 to $85.00 and gave the company an outperform rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $71.04.
Applied Materials stock traded down $0.52 during trading 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. The stock has a market capitalization of $57.80 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.01 and a beta of 1.64. The stock’s fifty day moving average is $61.78 and its 200 day moving average is $55.12. Applied Materials has a 1-year low of $36.80 and a 1-year high of $69.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.30.
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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.84 annualized dividend and a yield of 1.26%. Applied Materials’s dividend payout ratio is presently 27.63%.
In other news, CEO Gary E. Dickerson sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $61.11, for a total value of $61,110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $60.73, for a total value of $3,036,500.00. The disclosure for this sale can be found here. Insiders have sold 1,053,000 shares of company stock valued at $64,335,080 over the last 90 days. 0.41% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AMAT. Caxton Associates LP purchased a new position in Applied Materials in the fourth quarter valued at about $935,000. Point72 Asset Management L.P. boosted its holdings in Applied Materials by 96.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,431,075 shares of the manufacturing equipment provider’s stock valued at $148,393,000 after purchasing an additional 1,195,482 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Applied Materials by 337.6% in the fourth quarter. Captrust Financial Advisors now owns 28,407 shares of the manufacturing equipment provider’s stock valued at $1,767,000 after purchasing an additional 21,916 shares during the last quarter. Bluefin Trading LLC purchased a new position in Applied Materials in the fourth quarter valued at about $2,171,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Applied Materials by 61.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 175,372 shares of the manufacturing equipment provider’s stock valued at $10,705,000 after purchasing an additional 66,727 shares during the last quarter. 79.81% of the stock is owned by 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.
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