The Stifel Nicolaus Increases Applied Materials, Inc. (AMAT) Price Target to $42.00, Report finds

The Stifel Nicolaus Increases Applied Materials, Inc. (AMAT) Price Target to $42.00, Report finds

AMAT has been the topic of a number of other reports. Credit Suisse Group restated a “buy” rating and set a $34.00 price target on shares of Applied Materials in a research note on Wednesday, November 16th. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, November 16th. Evercore ISI restated a “buy” rating and set a $38.00 price target (up from $34.00) on shares of Applied Materials in a research note on Friday, December 16th. Cowen and Company upped their price target on Applied Materials from $33.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Needham & Company LLC restated a “buy” rating on shares of Applied Materials in a research note on Monday. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Applied Materials has an average rating of “Buy” and a consensus target price of $32.98.

Applied Materials, Inc. (NASDAQ:AMAT) had its target price lifted by equities research analysts at Stifel Nicolaus from $37.00 to $42.00 in a research note issued on Monday. The firm currently has a “buy” rating on the manufacturing equipment provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 18.91% from the company’s previous close.

Applied Materials (NASDAQ:AMAT) opened at 35.32 on Monday. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 22.94 and a beta of 1.81. The firm’s 50-day moving average price is $33.81 and its 200-day moving average price is $30.54. Applied Materials has a 12-month low of $15.50 and a 12-month high of $35.85.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the prior year, the firm earned $0.29 earnings per share. The firm’s revenue was up 39.2% compared to the same quarter last year. On average, equities analysts predict that Applied Materials will post $2.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 22nd will be given a dividend of $0.10 per share. The ex-dividend date is Friday, February 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Applied Materials’s payout ratio is 25.64%.

In related news, Director Stephen R. Forrest sold 4,800 shares of Applied Materials stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $31.86, for a total transaction of $152,928.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas F. Larkins sold 100,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $31.94, for a total value of $3,194,000.00. Following the transaction, the vice president now owns 482,782 shares of the company’s stock, valued at $15,420,057.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,817 shares of company stock valued at $4,018,421. Insiders own 0.31% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. increased its position in shares of Applied Materials by 1,610.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,030,019 shares of the manufacturing equipment provider’s stock valued at $65,568,000 after buying an additional 1,911,351 shares in the last quarter. Aviva PLC increased its position in shares of Applied Materials by 6.2% in the fourth quarter. Aviva PLC now owns 715,388 shares of the manufacturing equipment provider’s stock valued at $23,093,000 after buying an additional 42,038 shares in the last quarter. Marshall Wace LLP increased its position in shares of Applied Materials by 8,743.9% in the fourth quarter. Marshall Wace LLP now owns 2,891,352 shares of the manufacturing equipment provider’s stock valued at $93,304,000 after buying an additional 2,858,659 shares in the last quarter. Frontier Wealth Management LLC bought a new position in shares of Applied Materials during the fourth quarter valued at about $259,000. Finally, Pinnacle Associates Ltd. increased its position in shares of Applied Materials by 39.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 29,121 shares of the manufacturing equipment provider’s stock valued at $940,000 after buying an additional 8,231 shares in the last quarter. Hedge funds and other institutional investors own 82.52% of the company’s stock.

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