Applied Materials (NASDAQ:AMAT) had its price target raised by Nomura from $75.00 to $77.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. Nomura currently has a buy rating on the manufacturing equipment provider’s stock.
Several other equities analysts have also recently issued reports on the company. DZ Bank cut Applied Materials from a hold rating to a sell rating and set a $46.00 price objective for the company. in a research note on Tuesday, October 29th. UBS Group lifted their price objective on Applied Materials from $48.00 to $51.00 and gave the company a sell rating in a research note on Thursday. Zacks Investment Research cut Applied Materials from a strong-buy rating to a hold rating and set a $66.00 price objective for the company. in a research note on Tuesday, January 21st. B. Riley lifted their price objective on Applied Materials from $71.00 to $74.00 and gave the company a buy rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $75.00 price objective on shares of Applied Materials in a research note on Thursday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $71.04.
Shares of AMAT traded down $0.52 during midday trading on Thursday, hitting $66.85. The company had a trading volume of 8,094,968 shares, compared to its average volume of 7,525,363. The company’s 50-day simple moving average is $61.78 and its 200-day simple moving average is $55.12. 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 firm 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. Applied Materials has a 1 year low of $36.80 and a 1 year high of $69.44.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Applied Materials’s dividend payout ratio (DPR) is presently 27.63%.
In other news, SVP Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $60.73, for a total transaction of $3,036,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $62.86, for a total value of $188,580.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,053,000 shares of company stock worth $64,335,080 in the last three months. Corporate insiders own 0.41% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AMAT. Caxton Associates LP purchased a new position in shares of Applied Materials in the 4th quarter valued at approximately $935,000. Point72 Asset Management L.P. grew its stake in shares of Applied Materials by 96.8% in the 4th 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 grew its stake in shares of Applied Materials by 337.6% in the 4th 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 shares of Applied Materials in the 4th quarter valued at approximately $2,171,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Applied Materials by 61.4% in the 4th 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 currently owned by institutional investors and hedge funds.
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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