Brokerages Set Applied Materials, Inc. (NASDAQ:AMAT) PT at $218.24

Shares of Applied Materials, Inc. (NASDAQ:AMAT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-two brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $218.24.

AMAT has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Friday, November 29th. Evercore ISI lowered their price target on shares of Applied Materials from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. Mizuho reduced their price objective on Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. TD Cowen lowered their price target on Applied Materials from $250.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 target price on shares of Applied Materials in a report on Friday, November 15th.

Applied Materials Trading Up 2.7 %

AMAT stock traded up $4.67 during mid-day trading on Wednesday, reaching $178.32. 5,906,286 shares of the stock traded hands, compared to its average volume of 5,757,646. Applied Materials has a 52-week low of $149.84 and a 52-week high of $255.89. The stock's fifty day moving average is $173.43 and its 200-day moving average is $191.74. The company has a market cap of $145.10 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.61 and a beta of 1.53. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Applied Materials will post 9.48 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.90%. Applied Materials's dividend payout ratio is 18.58%.

Hedge Funds Weigh In On Applied Materials

A number of institutional investors have recently modified their holdings of the stock. Clean Yield Group bought a new position in Applied Materials in the 3rd quarter worth approximately $33,000. First PREMIER Bank raised its position in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider's stock worth $33,000 after acquiring an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Applied Materials during the third quarter valued at $37,000. DT Investment Partners LLC boosted its holdings in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider's stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. Finally, Dunhill Financial LLC increased its position in Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock worth $43,000 after purchasing an additional 81 shares during the period. 80.56% of the stock is owned by institutional investors.

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.