Analysts Set Applied Materials, Inc. (NASDAQ:AMAT) Price Target at $233.14

Shares of Applied Materials, Inc. (NASDAQ:AMAT) have been given an average rating of “Moderate Buy” by the twenty-two research firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $233.14.

A number of equities research analysts have weighed in on AMAT shares. UBS Group lowered their price target on Applied Materials from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Susquehanna boosted their target price on Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Morgan Stanley upped their target price on Applied Materials from $223.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. B. Riley lowered their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a research note on Friday, August 16th.

Applied Materials Stock Up 1.2 %

AMAT stock opened at $202.67 on Friday. The company’s 50 day moving average is $219.68 and its 200 day moving average is $211.03. The stock has a market cap of $167.81 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. Applied Materials has a 1-year low of $129.21 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. Sell-side analysts predict that Applied Materials will post 8.31 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.79%. Applied Materials’s dividend payout ratio is currently 18.39%.

Insider Activity at Applied Materials

In related news, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Thomas J. Iannotti sold 9,827 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the transaction, the director now owns 49,185 shares in the company, valued at approximately $11,639,630.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The disclosure for this sale can be found here. Insiders sold a total of 89,827 shares of company stock worth $21,382,560 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Applied Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMAT. Redmont Wealth Advisors LLC bought a new position in shares of Applied Materials in the 1st quarter worth about $26,000. Summit Securities Group LLC purchased a new stake in Applied Materials in the second quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $27,000. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials during the second quarter valued at approximately $28,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Applied Materials in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.