Applied Materials (NASDAQ:AMAT) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday. They currently have a $63.08 price target on the manufacturing equipment provider’s stock. Vetr‘s target price would indicate a potential upside of 10.92% from the company’s current price.
Several other brokerages have also recently weighed in on AMAT. Bank of America assumed coverage on shares of Applied Materials in a research note on Wednesday, March 21st. They set a “buy” rating and a $80.00 price target on the stock. BidaskClub upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Credit Suisse Group reiterated an “outperform” rating and set a $75.00 price target (up previously from $74.00) on shares of Applied Materials in a research note on Monday, February 26th. UBS assumed coverage on shares of Applied Materials in a research note on Wednesday, April 4th. They set a “neutral” rating and a $58.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, February 19th. One investment analyst has rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.52.
Shares of Applied Materials stock opened at $56.87 on Tuesday. The firm has a market cap of $58,912.02, a PE ratio of 17.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.63. Applied Materials has a 1-year low of $37.57 and a 1-year high of $62.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. The business 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 posted $0.67 EPS. equities analysts expect that Applied Materials will post 4.41 EPS for the current fiscal year.
Applied Materials announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Applied Materials news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction on Monday, March 12th. The shares were sold at an average price of $61.47, for a total value of $922,050.00. Following the sale, the director now directly owns 76,967 shares in the company, valued at approximately $4,731,161.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gabelli Funds LLC increased its holdings in Applied Materials by 1.2% in the 4th quarter. Gabelli Funds LLC now owns 87,000 shares of the manufacturing equipment provider’s stock valued at $4,447,000 after acquiring an additional 1,000 shares during the last quarter. Bbva Compass Bancshares Inc. increased its holdings in shares of Applied Materials by 27.7% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 4,799 shares of the manufacturing equipment provider’s stock worth $245,000 after buying an additional 1,041 shares during the last quarter. Telemus Capital LLC increased its holdings in shares of Applied Materials by 9.4% in the 4th quarter. Telemus Capital LLC now owns 13,300 shares of the manufacturing equipment provider’s stock worth $680,000 after buying an additional 1,138 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Applied Materials by 23.3% in the 4th quarter. Signaturefd LLC now owns 6,083 shares of the manufacturing equipment provider’s stock worth $311,000 after buying an additional 1,148 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Applied Materials by 23.6% in the 4th quarter. Cetera Investment Advisers now owns 6,194 shares of the manufacturing equipment provider’s stock worth $315,000 after buying an additional 1,181 shares during the last quarter. Institutional investors own 79.33% of the company’s stock.
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About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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