Applied Materials (NASDAQ:AMAT) Raised to Overweight at KeyCorp

KeyCorp upgraded shares of Applied Materials (NASDAQ:AMAT - Free Report) from a sector weight rating to an overweight rating in a report issued on Friday, Marketbeat.com reports. The brokerage currently has $225.00 price objective on the manufacturing equipment provider's stock.

Several other research firms have also weighed in on AMAT. Evercore ISI cut their target price 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. TD Cowen lowered their price objective on shares of Applied Materials from $250.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Needham & Company LLC reduced their target price on Applied Materials from $240.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Mizuho decreased their target price on Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Finally, Stifel Nicolaus dropped their price target on Applied Materials from $270.00 to $250.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Applied Materials presently has an average rating of "Moderate Buy" and a consensus price target of $217.41.

Applied Materials Trading Up 3.0 %

NASDAQ:AMAT traded up $5.57 on Friday, hitting $192.05. 8,101,765 shares of the stock were exchanged, compared to its average volume of 6,431,651. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials has a 52 week low of $156.78 and a 52 week high of $255.89. The stock has a market capitalization of $156.27 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.75 and a beta of 1.53. The company's 50-day moving average price is $173.10 and its 200 day moving average price is $191.61.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.12 earnings per share. On average, equities research analysts forecast that Applied Materials will post 9.37 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials's dividend payout ratio is currently 18.58%.

Hedge Funds Weigh In On Applied Materials

Institutional investors have recently added to or reduced their stakes in the company. Clean Yield Group bought a new position in shares of Applied Materials in the 3rd quarter valued at about $33,000. First PREMIER Bank grew its holdings in 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 purchasing an additional 124 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Applied Materials during the third quarter worth approximately $37,000. DT Investment Partners LLC increased its position in Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider's stock worth $39,000 after buying an additional 166 shares during the last quarter. Finally, City Holding Co. bought a new stake in Applied Materials in the fourth quarter valued at approximately $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.