Susquehanna Forecasts Strong Price Appreciation for Applied Materials (NASDAQ:AMAT) Stock

Applied Materials (NASDAQ:AMAT) had its price objective lifted by Susquehanna from $155.00 to $165.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the manufacturing equipment provider’s stock.

Other research analysts also recently issued reports about the company. Needham & Company LLC reduced their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Evercore ISI lowered their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Barclays cut their target price on shares of Applied Materials from $225.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.71.

Applied Materials Price Performance

AMAT opened at $195.51 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $173.29 and a 200 day moving average of $189.87. Applied Materials has a 52-week low of $158.96 and a 52-week high of $255.89. The stock has a market cap of $159.08 billion, a P/E ratio of 22.71, a PEG ratio of 1.96 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 EPS. As a group, sell-side analysts anticipate that Applied Materials will post 9.37 EPS for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 18.58%.

Institutional Investors Weigh In On Applied Materials

Large investors have recently bought and sold shares of the company. Clean Yield Group purchased a new position in Applied Materials during the 3rd quarter worth approximately $33,000. First PREMIER Bank raised its holdings in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Applied Materials during the third quarter valued at $37,000. DT Investment Partners LLC grew its position in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, Dunhill Financial LLC raised its stake in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. 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.