Applied Materials (NASDAQ:AMAT) Upgraded at Edward Jones

Edward Jones upgraded shares of Applied Materials (NASDAQ:AMAT) from a hold rating to a buy rating in a report released on Wednesday, Marketbeat.com reports.

Other research analysts also recently issued research reports about the stock. Barclays dropped their target price on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. The Goldman Sachs Group dropped their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America decreased their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Finally, Susquehanna lifted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $155.66 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The stock has a 50-day simple moving average of $172.54 and a two-hundred day simple moving average of $179.36. The firm has a market capitalization of $126.46 billion, a PE ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials has a 52-week low of $145.37 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Analysts forecast that Applied Materials will post 9.38 EPS for the current year.

Applied Materials declared that its board has initiated a share buyback plan on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Applied Materials in the fourth quarter valued at about $28,000. FPC Investment Advisory Inc. purchased a new position in Applied Materials during the 4th quarter valued at about $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials in the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials in the 3rd quarter worth approximately $37,000. Finally, City Holding Co. bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $39,000. 80.56% of the stock is currently owned by hedge funds and other 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.