Wells Fargo Reiterates Overweight Rating on Applied Materials (AMAT) after new buyback plan & dividend hike

Wells Fargo analyst Joe Quatrochi reiterated an Overweight rating and $135.00 price target on Applied Materials (NASDAQ: AMAT).

"We view AMAT's increased share repo and dividend announcement as highlighting the company's confidence in forward demand stability / FCF generation—consistent with its capital allocation plans targeting shareholder return of 80%-100% of FCF."

For an analyst ratings summary and ratings history on Applied Materials click here. For more ratings news on Applied Materials click here.

Shares of Applied Materials closed at $115.84 yesterday.

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