Applied Materials (NASDAQ:AMAT) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday. They presently have a $62.52 price objective on the manufacturing equipment provider’s stock. Vetr‘s price objective suggests a potential upside of 11.38% from the company’s previous close.
Several other brokerages have also recently weighed in on AMAT. UBS Group raised shares of Applied Materials from a “neutral” rating to a “positive” rating in a report on Tuesday, January 16th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday. Needham & Company LLC raised their target price on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a report on Friday, November 17th. Susquehanna Bancshares raised shares of Applied Materials from a “neutral” rating to a “positive” rating and raised their target price for the company from $60.00 to $72.00 in a report on Tuesday, January 16th. Finally, ValuEngine raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and an average price target of $64.06.
Shares of Applied Materials (NASDAQ AMAT) opened at $56.13 on Tuesday. The firm has a market cap of $59,130.00, a P/E ratio of 15.64, a P/E/G ratio of 1.00 and a beta of 1.72. Applied Materials has a 1-year low of $35.55 and a 1-year high of $60.89. The company has a quick ratio of 2.25, a current ratio of 2.96 and a debt-to-equity ratio of 0.62.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.08. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a net margin of 18.53% and a return on equity of 45.17%. During the same quarter last year, the company earned $0.67 earnings per share. equities analysts forecast that Applied Materials will post 4.33 EPS for the current year.
Applied Materials declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Ali Salehpour sold 125,125 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,716 shares of company stock worth $16,218,746. Insiders own 0.35% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Applied Materials during the third quarter worth approximately $105,000. Financial Gravity Companies Inc. purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $110,000. Risk Paradigm Group LLC purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $110,000. SevenBridge Financial Group LLC grew its position in shares of Applied Materials by 957.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock worth $122,000 after acquiring an additional 2,155 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $122,000. Institutional investors and hedge funds own 79.93% of the company’s stock.
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Applied Materials Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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