Stock Update: Applied Materials Inc (NASDAQ:AMAT) – Jim Cramer: Applied Materials (AMAT) Stock Has ‘Room to Run’

[at TheStreet] – TheStreet’s Jim Cramer made some bullish remarks about Applied Materials (AMAT) but he prefers Lam Research (LRCX). Read more on this. Applied Materials, Inc. (AMAT) , valued at $23.71B, began trading this morning at $20.95. Shares have traded today between $20.92 and $21.17 per share with its 52-week range being $14.25 to $22.71. Priced at 15.75x this year’s forecasted earnings, AMAT shares are relatively inexpensive compared to the industry’s 23.37x forward p/e ratio. And for passive income investors, the company pays shareholders $0.40 per share annually in dividends, yielding 1.92%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $0.32 per share, which would be $0.03 better than the year-ago quarter and a $0.06 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $1.32 would be a $0.13 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.42 Billion. If reported, that would be a 0.82% decrease over the year-ago quarter. Recently, DA Davidson downgraded AMAT from Buy to Neutral (Apr 6, 2016). Previously, Exane BNP Paribas upgraded AMAT from Underperform to Outperform. The average price target for AMAT shares by the analysts covering the stock is $22.55, which is 7.64% above where the stock opened this morning. See more in (NASDAQ:AMAT) Similar Articles: Market Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials Surge on Earnings Beat, Guidance (AMAT) Company Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials (AMAT) Stock Soars on Earnings Beat, Jim Cramer’s View Stock Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials (AMAT) Stock Lower Ahead of Today’s Earnings Report