B. Riley lowered shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a neutral rating in a research note published on Monday, October 29th, Marketbeat.com reports. B. Riley currently has $36.00 price objective on the manufacturing equipment provider’s stock, down from their previous price objective of $63.00.
Several other research firms have also issued reports on AMAT. Citigroup decreased their price target on shares of Applied Materials from $68.00 to $57.00 and set a buy rating on the stock in a research report on Tuesday, September 25th. Zacks Investment Research lowered shares of Applied Materials from a hold rating to a sell rating in a research note on Wednesday, October 17th. Royal Bank of Canada reaffirmed a hold rating and issued a $50.00 price objective on shares of Applied Materials in a research note on Friday, August 17th. ValuEngine lowered shares of Applied Materials from a hold rating to a sell rating in a research note on Monday, July 2nd. Finally, Susquehanna Bancshares decreased their target price on shares of Applied Materials from $73.00 to $65.00 and set a positive rating for the company in a research note on Monday, July 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $52.14.
Shares of NASDAQ AMAT traded down $0.38 during mid-day trading on Monday, reaching $35.19. 11,644,995 shares of the company traded hands, compared to its average volume of 13,510,770. Applied Materials has a fifty-two week low of $30.53 and a fifty-two week high of $62.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.64 and a quick ratio of 1.73. The firm has a market capitalization of $35.16 billion, a PE ratio of 7.91, a P/E/G ratio of 1.15 and a beta of 1.60.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.97. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4 billion. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. Sell-side analysts anticipate that Applied Materials will post 3.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 annualized dividend and a yield of 2.27%. Applied Materials’s dividend payout ratio (DPR) is presently 17.98%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its holdings in shares of Applied Materials by 1.3% during the 3rd quarter. Morgan Stanley now owns 4,356,836 shares of the manufacturing equipment provider’s stock worth $168,392,000 after purchasing an additional 55,445 shares during the period. Buckingham Capital Management Inc. increased its holdings in shares of Applied Materials by 4.3% during the 3rd quarter. Buckingham Capital Management Inc. now owns 87,718 shares of the manufacturing equipment provider’s stock worth $3,390,000 after purchasing an additional 3,588 shares during the period. Nordea Investment Management AB increased its holdings in shares of Applied Materials by 3.5% during the 3rd quarter. Nordea Investment Management AB now owns 2,229,432 shares of the manufacturing equipment provider’s stock worth $86,165,000 after purchasing an additional 75,357 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Applied Materials by 76.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 973,789 shares of the manufacturing equipment provider’s stock worth $37,637,000 after purchasing an additional 421,583 shares during the period. Finally, Kentucky Retirement Systems bought a new position in shares of Applied Materials during the 3rd quarter worth about $1,759,000. Hedge funds and other institutional investors own 78.74% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
Further Reading: Beta
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