Applied Materials (NASDAQ:AMAT) Price Target Raised to $105.00

Applied Materials (NASDAQ:AMATGet Rating) had its price objective hoisted by The Goldman Sachs Group to $105.00 in a research report released on Monday morning, Stock Target Advisor reports.

A number of other research analysts have also recently weighed in on the company. UBS Group lifted their target price on Applied Materials from $90.00 to $98.00 and gave the company a neutral rating in a report on Friday, November 18th. Wells Fargo & Company lifted their target price on Applied Materials from $100.00 to $115.00 and gave the company an overweight rating in a report on Friday, November 18th. Mizuho lifted their target price on Applied Materials from $90.00 to $115.00 and gave the company a buy rating in a report on Friday, November 18th. Bank of America cut their price objective on Applied Materials from $125.00 to $102.00 and set a buy rating on the stock in a research report on Friday, October 7th. Finally, New Street Research raised Applied Materials from a neutral rating to a buy rating and set a $115.00 price objective on the stock in a research report on Friday, October 21st. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $120.64.

Applied Materials Price Performance

AMAT stock opened at $107.67 on Monday. Applied Materials has a 52-week low of $71.12 and a 52-week high of $167.06. The stock’s fifty day simple moving average is $89.50 and its 200-day simple moving average is $97.16. The company has a quick ratio of 1.35, a current ratio of 2.16 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $92.63 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.71 and a beta of 1.49.

Applied Materials (NASDAQ:AMATGet Rating) last issued its earnings results on Thursday, November 17th. The manufacturing equipment provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.30. Applied Materials had a return on equity of 56.62% and a net margin of 25.31%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the firm earned $1.94 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts expect that Applied Materials will post 6.84 EPS for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. Applied Materials’s dividend payout ratio (DPR) is 13.98%.

Hedge Funds Weigh In On Applied Materials

A number of hedge funds have recently bought and sold shares of AMAT. Walleye Capital LLC boosted its stake in Applied Materials by 184.4% in the second quarter. Walleye Capital LLC now owns 16,830 shares of the manufacturing equipment provider’s stock valued at $1,531,000 after acquiring an additional 10,913 shares during the period. Trust Co. of Virginia VA boosted its stake in Applied Materials by 2.3% in the second quarter. Trust Co. of Virginia VA now owns 6,578 shares of the manufacturing equipment provider’s stock valued at $599,000 after acquiring an additional 149 shares during the period. Morningstar Investment Services LLC boosted its stake in Applied Materials by 25.4% in the first quarter. Morningstar Investment Services LLC now owns 2,314 shares of the manufacturing equipment provider’s stock valued at $321,000 after acquiring an additional 468 shares during the period. Waldron Private Wealth LLC boosted its position in shares of Applied Materials by 154.5% during the first quarter. Waldron Private Wealth LLC now owns 5,406 shares of the manufacturing equipment provider’s stock worth $712,000 after buying an additional 3,282 shares during the period. Finally, Synovus Financial Corp boosted its position in shares of Applied Materials by 16.7% during the first quarter. Synovus Financial Corp now owns 74,799 shares of the manufacturing equipment provider’s stock worth $9,856,000 after buying an additional 10,714 shares during the period. 74.99% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials

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Applied Materials, Inc engages in the provision of 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.

Further Reading

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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