Vetr Downgrades Applied Materials (AMAT) to Buy

Vetr lowered shares of Applied Materials (NASDAQ:AMAT) from a strong-buy rating to a buy rating in a report published on Monday. They currently have $62.50 target price on the manufacturing equipment provider’s stock.

Several other equities research analysts have also recently issued reports on AMAT. Goldman Sachs Group raised shares of Applied Materials from a neutral rating to a buy rating and boosted their price objective for the company from $49.00 to $52.00 in a research report on Wednesday, September 13th. Morgan Stanley reissued an overweight rating on shares of Applied Materials in a research report on Thursday, September 14th. KeyCorp reissued an outperform rating and issued a $57.00 price objective on shares of Applied Materials in a research report on Saturday, September 16th. Royal Bank of Canada raised shares of Applied Materials from a sector perform rating to an outperform rating and boosted their price objective for the company from $48.00 to $55.00 in a research report on Sunday, September 17th. Finally, B. Riley reissued a buy rating and issued a $61.00 price objective on shares of Applied Materials in a research report on Wednesday, September 20th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $61.22.

Applied Materials (NASDAQ AMAT) traded up $0.25 during mid-day trading on Monday, hitting $53.45. 9,069,838 shares of the company were exchanged, compared to its average volume of 12,440,000. Applied Materials has a 52-week low of $32.60 and a 52-week high of $60.89. 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 $56,460.00, a PE ratio of 16.86, a PEG ratio of 1.07 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. equities research analysts predict that Applied Materials will post 4.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. Applied Materials’s payout ratio is presently 12.62%.

In other news, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total transaction of $214,680.00. The disclosure for this sale can be found here. Insiders sold a total of 312,716 shares of company stock valued at $16,218,746 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its stake in Applied Materials by 128.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 103,721 shares of the manufacturing equipment provider’s stock valued at $4,285,000 after purchasing an additional 58,370 shares in the last quarter. Fiduciary Trust Co. acquired a new position in Applied Materials during the 2nd quarter valued at approximately $196,000. Schroder Investment Management Group increased its stake in Applied Materials by 201.9% during the 2nd quarter. Schroder Investment Management Group now owns 304,508 shares of the manufacturing equipment provider’s stock valued at $12,618,000 after purchasing an additional 203,655 shares in the last quarter. Dai Ichi Life Insurance Company Ltd increased its stake in Applied Materials by 99.1% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 173,467 shares of the manufacturing equipment provider’s stock valued at $7,166,000 after purchasing an additional 86,361 shares in the last quarter. Finally, Seven Eight Capital LP increased its stake in Applied Materials by 1,005.8% during the 2nd quarter. Seven Eight Capital LP now owns 140,836 shares of the manufacturing equipment provider’s stock valued at $5,818,000 after purchasing an additional 128,100 shares in the last quarter. Hedge funds and other institutional investors own 79.76% of the company’s stock.

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Applied Materials Company Profile

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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