Applied Materials (AMAT) Cut to Hold at BidaskClub
BidaskClub cut shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a report released on Thursday morning.
Other research analysts also recently issued reports about the stock. Stifel Nicolaus reissued a buy rating and set a $61.00 price objective (up from $55.00) on shares of Applied Materials in a research report on Friday, August 18th. Credit Suisse Group upped their target price on shares of Applied Materials from $5.00 to $62.00 and gave the stock an outperform rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Applied Materials from a buy rating to a hold rating in a research report on Monday, August 14th. B. Riley reaffirmed a buy rating and issued a $61.00 target price on shares of Applied Materials in a research report on Saturday, August 19th. Finally, Vetr raised shares of Applied Materials from a buy rating to a strong-buy rating and set a $48.16 target price on the stock in a research report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $61.15.
Applied Materials (NASDAQ AMAT) opened at $51.43 on Thursday. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57. The stock has a market cap of $54,849.43, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.98 and a beta of 1.80. Applied Materials has a 1 year low of $31.66 and a 1 year high of $60.89.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. The business 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 company’s quarterly revenue 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. equities research analysts predict that Applied Materials will post 3.96 earnings per share for the current year.
In related news, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AMAT. Janus Henderson Group PLC grew its position in Applied Materials by 390.4% during the 2nd quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock valued at $472,835,000 after purchasing an additional 9,112,328 shares during the last quarter. Egerton Capital UK LLP lifted its stake in 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 valued at $881,359,000 after acquiring an additional 3,184,994 shares during the period. Capital Research Global Investors lifted its stake in 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 valued at $732,213,000 after acquiring an additional 2,284,836 shares during the period. Parametric Portfolio Associates LLC lifted its stake in Applied Materials by 108.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,690,615 shares of the manufacturing equipment provider’s stock valued at $152,459,000 after acquiring an additional 1,922,233 shares during the period. Finally, First Eagle Investment Management LLC bought a new position in Applied Materials during the 3rd quarter valued at about $97,804,000. 78.58% of the stock is currently owned by institutional investors.
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Applied Materials Company Profile
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