Applied Materials (NASDAQ:AMAT) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday, January 11th.
Several other brokerages also recently commented on AMAT. Vetr downgraded Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price on the stock. in a report on Tuesday, November 21st. Nomura restated a “buy” rating and set a $65.00 price objective (up previously from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. Royal Bank of Canada boosted their price objective on Applied Materials from $55.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Credit Suisse Group lifted their target price on Applied Materials from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Finally, Needham & Company LLC lifted their target price on Applied Materials to $66.00 and gave the company a “positive” rating in a research note on Friday, November 17th. One research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $62.56.
Shares of Applied Materials (NASDAQ AMAT) opened at $48.31 on Thursday. Applied Materials has a 52 week low of $34.58 and a 52 week high of $60.89. The company has a market capitalization of $50,900.00, a price-to-earnings ratio of 15.24, a P/E/G ratio of 0.99 and a beta of 1.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data 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. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. research analysts expect that Applied Materials will post 4.04 EPS for the current year.
In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Insiders sold 312,716 shares of company stock worth $16,218,746 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.
Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Applied Materials by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock worth $3,101,736,000 after purchasing an additional 1,721,964 shares during the last quarter. State Street Corp lifted its position in shares of Applied Materials by 2.1% during the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock worth $2,019,939,000 after purchasing an additional 985,296 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Applied Materials by 14.8% during the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock worth $732,213,000 after purchasing an additional 2,284,836 shares during the last quarter. Egerton Capital UK LLP lifted its position in shares of Applied Materials by 23.2% during the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after purchasing an additional 3,184,994 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Applied Materials by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after purchasing an additional 650,755 shares during the last quarter. 80.07% of the stock is owned by institutional investors.
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About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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