Applied Materials (NASDAQ:AMAT) Upgraded at Edward Jones

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

Several other research analysts have also issued reports on the company. Stifel Nicolaus reduced their target price on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Morgan Stanley reissued an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Sanford C. Bernstein decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Finally, Susquehanna boosted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Applied Materials Stock Up 3.8 %

NASDAQ:AMAT opened at $155.66 on Wednesday. The company’s 50-day simple moving average is $172.54 and its 200-day simple moving average is $179.36. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials has a fifty-two week low of $145.37 and a fifty-two week high of $255.89. The stock has a market capitalization of $126.46 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, equities analysts anticipate that Applied Materials will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its Board of Directors has authorized a share repurchase program on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Insider Transactions at Applied Materials

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

Institutional Investors Weigh In On Applied Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new stake in shares of Applied Materials in the fourth quarter valued at about $28,000. Crews Bank & Trust purchased a new position in Applied Materials in the 4th quarter valued at about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials in the 3rd quarter worth about $37,000. YANKCOM Partnership purchased a new stake in Applied Materials during the 4th quarter worth approximately $32,000. Finally, Dunhill Financial LLC raised its holdings in shares of Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors 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.