The Applied Materials Inc. (AMAT) Given Buy Rating at Goldman Sachs Group Inc.

The Applied Materials Inc. (AMAT) Given Buy Rating at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reaffirmed their buy rating on shares of Applied Materials Inc. (NASDAQ:AMAT) in a research report sent to investors on Tuesday morning. Goldman Sachs Group Inc. currently has a $33.00 price objective on the manufacturing equipment provider’s stock.

Other equities analysts also recently issued research reports about the company. B. Riley reiterated a buy rating and set a $27.00 price target on shares of Applied Materials in a research report on Tuesday, July 5th. RBC Capital Markets reiterated a sector perform rating and set a $28.00 price target (up previously from $26.00) on shares of Applied Materials in a research report on Wednesday, August 17th. Credit Suisse Group AG reiterated a buy rating on shares of Applied Materials in a research report on Friday, June 10th. Needham & Company LLC reiterated a buy rating and set a $34.00 price target (up previously from $29.00) on shares of Applied Materials in a research report on Sunday, August 21st. Finally, Cowen and Company reiterated an outperform rating and set a $26.00 price target on shares of Applied Materials in a research report on Thursday, June 30th. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $30.72.

Shares of Applied Materials (NASDAQ:AMAT) traded up 0.996% on Tuesday, reaching $29.905. The company’s stock had a trading volume of 1,209,059 shares. The firm has a 50 day moving average price of $29.62 and a 200-day moving average price of $24.80. The stock has a market cap of $32.32 billion, a PE ratio of 23.584 and a beta of 1.84. Applied Materials has a 12-month low of $15.07 and a 12-month high of $31.07.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.84 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. Applied Materials’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Equities research analysts expect that Applied Materials will post $1.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.35%. Applied Materials’s payout ratio is 31.25%.

In related news, VP Omkaram Nalamasu sold 26,035 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AMAT. Vanguard Group Inc. increased its stake in shares of Applied Materials by 2.6% in the second quarter. Vanguard Group Inc. now owns 69,928,209 shares of the manufacturing equipment provider’s stock worth $1,676,180,000 after buying an additional 1,775,955 shares during the period. FMR LLC increased its stake in shares of Applied Materials by 65.3% in the second quarter. FMR LLC now owns 32,620,245 shares of the manufacturing equipment provider’s stock worth $781,907,000 after buying an additional 12,881,391 shares during the period. Lazard Asset Management LLC increased its stake in shares of Applied Materials by 0.8% in the first quarter. Lazard Asset Management LLC now owns 14,935,512 shares of the manufacturing equipment provider’s stock worth $316,333,000 after buying an additional 124,092 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Applied Materials by 16.9% in the second quarter. TIAA CREF Investment Management LLC now owns 12,799,098 shares of the manufacturing equipment provider’s stock worth $306,794,000 after buying an additional 1,850,984 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Applied Materials by 2.8% in the first quarter. Geode Capital Management LLC now owns 10,168,236 shares of the manufacturing equipment provider’s stock worth $214,965,000 after buying an additional 277,567 shares during the period. 82.20% of the stock is owned by institutional investors.

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