Joseph Quatrochi, an analyst from Wells Fargo, maintained the Buy rating on Applied Materials (AMAT – Research Report). The associated price target was raised to $205.00.
Joseph Quatrochi’s rating is based on several strategic financial decisions made by Applied Materials that signal strong future performance. The company has announced a substantial $10 billion share repurchase authorization, which supplements the existing authorization and reflects a robust confidence in its future demand and free cash flow generation. This move is part of Applied Materials’ broader capital allocation strategy aimed at returning a significant portion of its free cash flow to shareholders.
Additionally, the company has approved a 15% increase in its quarterly dividend, marking the eighth consecutive year of dividend growth. This consistent increase in shareholder returns underscores the company’s commitment to rewarding its investors and suggests a stable financial outlook. These factors combined have led Joseph Quatrochi to assign a Buy rating to Applied Materials’ stock, indicating a positive view of the company’s financial health and growth prospects.
In another report released on March 5, Bernstein also maintained a Buy rating on the stock with a $210.00 price target.
AMAT’s price has also changed moderately for the past six months – from $178.050 to $149.990, which is a -15.76% drop .
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