Brokerages Set Applied Materials, Inc. (NASDAQ:AMAT) PT at $224.84

Shares of Applied Materials, Inc. (NASDAQ:AMAT) have been given a consensus recommendation of “Moderate Buy” by the twenty-five brokerages that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $224.84.

Several research analysts recently weighed in on AMAT shares. Raymond James boosted their target price on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. boosted their price target on Applied Materials from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a research note on Thursday, April 11th. They set a “hold” rating and a $225.00 price target on the stock. Bank of America boosted their price target on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, TD Cowen boosted their price target on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th.

Applied Materials Trading Up 2.1 %

AMAT opened at $206.47 on Wednesday. Applied Materials has a 12 month low of $129.21 and a 12 month high of $255.89. The stock has a fifty day moving average price of $229.49 and a 200-day moving average price of $206.53. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The firm has a market cap of $170.95 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.58 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the previous year, the business earned $2.00 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Materials will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued 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 yield of 0.77%. Applied Materials’s payout ratio is 18.39%.

Insider Buying and Selling

In related news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the completion of the transaction, the senior vice president now owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the transaction, the director now directly owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,827 shares of company stock valued at $21,382,560. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Materials

A number of hedge funds have recently made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Applied Materials in the first quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of Applied Materials in the second quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Applied Materials in the fourth quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Applied Materials in the first quarter valued at approximately $35,000. Finally, RFP Financial Group LLC grew its position in shares of Applied Materials by 96.6% in the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Company Profile

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.