Brokerages Set Applied Materials, Inc. (NASDAQ:AMAT) Price Target at $221.84

Applied Materials, Inc. (NASDAQ:AMAT) has received an average rating of “Moderate Buy” from the twenty-five brokerages that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $221.84.

A number of brokerages have recently issued reports on AMAT. UBS Group increased their target price on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Applied Materials in a research note on Thursday, April 11th. They issued a “hold” rating and a $225.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Susquehanna upped their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Mizuho increased their price target on Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 17th.

Insider Transactions at Applied Materials

In other Applied Materials news, SVP Teri A. Little sold 2,500 shares of Applied Materials 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 sale, the senior vice president now owns 76,212 shares of the company’s stock, valued at approximately $16,890,103.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Teri A. Little sold 2,500 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the completion of the transaction, the senior vice president now directly owns 76,212 shares in the company, valued at approximately $16,890,103.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 108,356 shares in the company, valued at $24,091,873.04. The disclosure for this sale can be found here. Insiders sold 89,827 shares of company stock valued at $21,382,560 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aldebaran Financial Inc. acquired a new position in Applied Materials in the 4th quarter valued at $211,000. Sycomore Asset Management boosted its position in shares of Applied Materials by 55.6% during the 4th quarter. Sycomore Asset Management now owns 33,107 shares of the manufacturing equipment provider’s stock worth $5,437,000 after acquiring an additional 11,825 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Applied Materials during the fourth quarter worth $7,274,000. First National Bank of Mount Dora Trust Investment Services acquired a new stake in shares of Applied Materials in the 1st quarter valued at $1,764,000. Finally, GHP Investment Advisors Inc. increased its stake in shares of Applied Materials by 132.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 16,704 shares of the manufacturing equipment provider’s stock valued at $2,707,000 after purchasing an additional 9,527 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT opened at $237.41 on Friday. The company’s fifty day moving average is $218.22 and its two-hundred day moving average is $196.10. Applied Materials has a 52-week low of $129.21 and a 52-week high of $249.42. 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 firm has a market capitalization of $196.57 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 3.09 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business earned $2.00 earnings per share. Equities research analysts forecast that Applied Materials will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

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.