Analysts Set Applied Materials, Inc. (NASDAQ:AMAT) Price Target at $215.38

Shares of Applied Materials, Inc. (NASDAQ:AMAT) have been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $215.38.

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Citigroup lifted their price target 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. Evercore ISI lowered their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Finally, The Goldman Sachs Group lowered their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the company’s 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 sale, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

A number of institutional investors and hedge funds have recently made changes to their positions in AMAT. FPC Investment Advisory Inc. purchased a new stake in Applied Materials in the 4th quarter valued at about $28,000. Crews Bank & Trust purchased a new stake in Applied Materials in the 4th quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials in the 3rd quarter valued at about $37,000. YANKCOM Partnership purchased a new stake in Applied Materials in the 4th quarter valued at about $32,000. Finally, Dunhill Financial LLC increased its stake in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Down 3.7 %

Shares of NASDAQ:AMAT opened at $149.99 on Thursday. Applied Materials has a 12-month low of $147.88 and a 12-month high of $255.89. The stock has a market cap of $121.86 billion, a PE ratio of 19.61, a P/E/G ratio of 1.81 and a beta of 1.62. The business has a 50 day moving average of $173.69 and a 200-day moving average of $180.46. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. As a group, equities research analysts forecast that Applied Materials will post 9.38 earnings per share for the current year.

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

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.23%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is 20.92%.

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.