Applied Materials, Inc. (NASDAQ:AMAT) shares gapped up prior to trading on Thursday . The stock had previously closed at $47.57, but opened at $48.58. Applied Materials shares last traded at $48.99, with a volume of 13207686 shares changing hands.
Several research analysts have recently issued reports on the company. BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada downgraded Applied Materials from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $67.73 to $55.00 in a research note on Wednesday, June 13th. They noted that the move was a valuation call. Needham & Company LLC lowered their price objective on Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Monday, May 21st. Craig Hallum lowered their price objective on Applied Materials from $76.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, May 18th. They noted that the move was a valuation call. Finally, Deutsche Bank set a $65.00 price objective on Applied Materials and gave the company a “buy” rating in a research note on Friday, May 18th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $64.20.
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The firm has a market capitalization of $48.94 billion, a PE ratio of 15.07, a P/E/G ratio of 0.81 and a beta of 1.64. The company has a quick ratio of 1.83, a current ratio of 2.60 and a debt-to-equity ratio of 0.75.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Applied Materials had a return on equity of 51.65% and a net margin of 19.24%. During the same period in the prior year, the business earned $0.79 EPS. equities analysts forecast that Applied Materials, Inc. will post 4.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, August 22nd. Applied Materials’s payout ratio is 24.62%.
Institutional investors have recently bought and sold shares of the business. Financial Gravity Companies Inc. bought a new position in shares of Applied Materials in the 4th quarter worth $110,000. Risk Paradigm Group LLC bought a new position in shares of Applied Materials in the 4th quarter worth $110,000. Shine Investment Advisory Services Inc. lifted its holdings in shares of Applied Materials by 368.3% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 2,056 shares of the manufacturing equipment provider’s stock worth $114,000 after purchasing an additional 1,617 shares in the last quarter. SevenBridge Financial Group LLC lifted its holdings in shares of Applied Materials by 957.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock worth $122,000 after purchasing an additional 2,155 shares in the last quarter. Finally, Optimum Investment Advisors bought a new position in shares of Applied Materials in the 1st quarter worth $147,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.