BidaskClub Downgrades Applied Materials (AMAT) to Hold

Applied Materials (NASDAQ:AMAT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $61.00 price objective (up from $55.00) on shares of Applied Materials in a report on Friday, August 18th. Credit Suisse Group lifted their target price on Applied Materials from $5.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. B. Riley reiterated a “buy” rating and set a $61.00 target price on shares of Applied Materials in a research note on Saturday, August 19th. Finally, Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price on the stock in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Applied Materials presently has a consensus rating of “Buy” and an average target price of $61.15.

Applied Materials (AMAT) opened at $51.43 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. The stock has a market cap of $55,777.27, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.00 and a beta of 1.80. Applied Materials has a fifty-two week low of $31.66 and a fifty-two week high of $60.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. sell-side analysts anticipate that Applied Materials will post 3.96 earnings per share for the current fiscal year.

In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of Applied Materials stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Shelton Capital Management grew its holdings in Applied Materials by 2.5% during the 3rd quarter. Shelton Capital Management now owns 123,001 shares of the manufacturing equipment provider’s stock valued at $6,407,000 after buying an additional 3,000 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Applied Materials during the 3rd quarter valued at about $190,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Applied Materials during the 3rd quarter valued at about $2,204,000. Americafirst Capital Management LLC purchased a new position in Applied Materials during the 3rd quarter valued at about $403,000. Finally, Cypress Capital Group purchased a new position in Applied Materials during the 3rd quarter valued at about $365,000. 78.58% of the stock is owned by institutional investors and hedge funds.

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About Applied Materials

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