B. Riley Raises Applied Materials (NASDAQ:AMAT) Price Target to $300.00

Applied Materials (NASDAQ:AMATFree Report) had its price target lifted by B. Riley from $255.00 to $300.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the manufacturing equipment provider’s stock.

Several other equities analysts have also issued reports on AMAT. Barclays upgraded Applied Materials from an underweight rating to an equal weight rating and boosted their price target for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Stifel Nicolaus restated a buy rating and set a $230.00 price target on shares of Applied Materials in a research note on Wednesday, May 15th. Cantor Fitzgerald restated an overweight rating and set a $260.00 price target on shares of Applied Materials in a research note on Friday, May 17th. UBS Group lifted their price objective on Applied Materials from $185.00 to $235.00 and gave the company a neutral rating in a report on Tuesday, March 5th. Finally, Mizuho lifted their price objective on Applied Materials from $225.00 to $245.00 and gave the company a buy rating in a report on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has an average rating of Moderate Buy and a consensus price target of $221.84.

Read Our Latest Analysis on AMAT

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $235.41 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The business has a 50-day moving average of $214.91 and a two-hundred day moving average of $192.95. The stock has a market capitalization of $194.91 billion, a P/E ratio of 27.06, a P/E/G ratio of 3.14 and a beta of 1.56. Applied Materials has a fifty-two week low of $129.21 and a fifty-two week high of $249.42.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. On average, equities research analysts predict that Applied Materials will post 8.31 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio is currently 18.39%.

Insider Activity at Applied Materials

In related news, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the sale, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the transaction, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Teri A. Little sold 2,500 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $221.62, for a total value of $554,050.00. Following the transaction, the senior vice president now owns 76,212 shares of the company’s stock, valued at approximately $16,890,103.44. The disclosure for this sale can be found here. Insiders sold a total of 30,000 shares of company stock worth $6,598,500 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Applied Materials

A number of large investors have recently added to or reduced their stakes in AMAT. JT Stratford LLC boosted its stake in shares of Applied Materials by 0.4% during the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock worth $2,246,000 after buying an additional 48 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Applied Materials by 5.6% during the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock worth $191,000 after buying an additional 49 shares during the last quarter. Heritage Wealth Advisors boosted its stake in shares of Applied Materials by 1.0% during the 4th quarter. Heritage Wealth Advisors now owns 5,217 shares of the manufacturing equipment provider’s stock worth $846,000 after buying an additional 54 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Applied Materials by 0.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,041 shares of the manufacturing equipment provider’s stock worth $1,246,000 after buying an additional 54 shares during the last quarter. Finally, F M Investments LLC boosted its stake in shares of Applied Materials by 2.9% during the 1st quarter. F M Investments LLC now owns 2,098 shares of the manufacturing equipment provider’s stock worth $434,000 after buying an additional 59 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

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. 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.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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