Brokerages Set Applied Materials, Inc. (NASDAQ:AMAT) Target Price at $221.84

Shares of Applied Materials, Inc. (NASDAQ:AMAT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-five brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $221.84.

AMAT has been the subject of a number of recent analyst reports. Susquehanna raised their target price on Applied Materials from $160.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, May 16th. JPMorgan Chase & Co. increased their target price on shares of Applied Materials from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, May 17th. Evercore ISI began coverage on Applied Materials in a research note on Tuesday, April 16th. They set an "outperform" rating and a $260.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a research note on Thursday, April 11th. They issued a "hold" rating and a $225.00 price objective for the company. Finally, Barclays upgraded Applied Materials from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th.

Insider Buying and Selling

In related news, CFO Brice Hill sold 20,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total value of $4,446,800.00. Following the transaction, the chief financial officer now directly owns 108,356 shares of the company's stock, valued at approximately $24,091,873.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Teri A. Little sold 7,500 shares of the company's stock in a transaction on Friday, May 31st. The shares were sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the completion of the sale, the senior vice president now directly owns 78,712 shares of the company's stock, valued at approximately $16,767,230.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brice Hill sold 20,000 shares of the firm's stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now directly owns 108,356 shares in the company, valued at $24,091,873.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,827 shares of company stock valued at $21,382,560. Insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Applied Materials

Several hedge funds have recently modified their holdings of the stock. Aldebaran Financial Inc. acquired a new stake in shares of Applied Materials during the fourth quarter valued at about $211,000. Sycomore Asset Management raised its position in shares of Applied Materials by 55.6% in the 4th quarter. Sycomore Asset Management now owns 33,107 shares of the manufacturing equipment provider's stock valued at $5,437,000 after purchasing an additional 11,825 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Applied Materials during the 4th quarter valued at approximately $7,274,000. First National Bank of Mount Dora Trust Investment Services acquired a new stake in shares of Applied Materials during the first quarter worth approximately $1,764,000. Finally, GHP Investment Advisors Inc. raised its holdings in Applied Materials by 132.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 16,704 shares of the manufacturing equipment provider's stock valued at $2,707,000 after acquiring an additional 9,527 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded up $3.46 during midday trading on Friday, hitting $235.99. The stock had a trading volume of 6,387,433 shares, compared to its average volume of 5,592,667. Applied Materials has a 1 year low of $129.21 and a 1 year high of $249.42. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $218.22 and a two-hundred day moving average price of $195.83. The company has a market capitalization of $195.39 billion, a PE ratio of 27.13, a P/E/G ratio of 3.04 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.12. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 EPS. As a group, equities analysts predict that Applied Materials will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be given a $0.40 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. Applied Materials's dividend payout ratio is presently 18.39%.

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.