Applied Materials (NASDAQ:AMAT) Upgraded by Edward Jones to Buy Rating

Edward Jones upgraded shares of Applied Materials (NASDAQ:AMAT) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports.

Other research analysts also recently issued reports about the stock. Needham & Company LLC dropped their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Citigroup increased their target price on shares of Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Stifel Nicolaus dropped their target price on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company decreased their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Evercore ISI decreased their price target 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Applied Materials Trading Up 1.4 %

Shares of NASDAQ:AMAT opened at $149.06 on Wednesday. Applied Materials has a 52 week low of $145.37 and a 52 week high of $255.89. The company’s 50 day moving average is $173.10 and its two-hundred day moving average is $179.85. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $121.10 billion, a PE ratio of 19.48, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities analysts predict that Applied Materials will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is 20.92%.

Applied Materials declared that its Board of Directors has initiated a share buyback plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Applied Materials

Large investors have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC purchased a new position in Applied Materials during the 4th quarter valued at about $273,000. TFR Capital LLC. purchased a new position in Applied Materials during the 4th quarter valued at about $403,000. Probity Advisors Inc. increased its holdings in Applied Materials by 30.3% during the 4th quarter. Probity Advisors Inc. now owns 4,422 shares of the manufacturing equipment provider’s stock valued at $719,000 after acquiring an additional 1,027 shares in the last quarter. Audent Global Asset Management LLC increased its holdings in Applied Materials by 360.2% during the 4th quarter. Audent Global Asset Management LLC now owns 31,155 shares of the manufacturing equipment provider’s stock valued at $5,067,000 after acquiring an additional 24,385 shares in the last quarter. Finally, BridgePort Financial Solutions LLC purchased a new position in Applied Materials during the 4th quarter valued at about $364,000. 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.