Applied Materials (AMAT) Lowered to “Hold” at BidaskClub
Applied Materials (NASDAQ:AMAT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.
A number of other research firms have also recently weighed in on AMAT. Credit Suisse Group reissued a “buy” rating and issued a $62.00 price objective on shares of Applied Materials in a research report on Tuesday, September 26th. Stifel Nicolaus restated a “buy” rating on shares of Applied Materials in a research note on Sunday, October 1st. Needham & Company LLC lifted their price target on Applied Materials to $66.00 and gave the company a “positive” rating in a research note on Friday, November 17th. Zacks Investment Research lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Finally, KeyCorp restated an “outperform” rating and issued a $57.00 price target on shares of Applied Materials in a research note on Saturday, September 16th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.22.
Applied Materials (AMAT) traded up $0.25 during trading on Thursday, hitting $53.45. The stock had a trading volume of 9,069,938 shares, compared to its average volume of 11,900,000. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. The firm has a market cap of $56,460.00, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.81. Applied Materials has a 52-week low of $33.09 and a 52-week high of $60.89.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. equities research analysts forecast that Applied Materials will post 4.04 EPS for the current year.
In other news, VP Ali Salehpour sold 125,125 shares of the business’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen R. Forrest sold 4,000 shares of the business’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 value of $214,680.00. 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 0.31% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Schroder Investment Management Group increased its holdings in Applied Materials by 201.9% in the second quarter. Schroder Investment Management Group now owns 304,508 shares of the manufacturing equipment provider’s stock valued at $12,618,000 after buying an additional 203,655 shares during the last quarter. Icon Advisers Inc. Co. increased its position in shares of Applied Materials by 3.0% in the 2nd quarter. Icon Advisers Inc. Co. now owns 92,700 shares of the manufacturing equipment provider’s stock worth $3,829,000 after purchasing an additional 2,700 shares during the last quarter. Bridgewater Associates LP bought a new stake in shares of Applied Materials in the 2nd quarter worth about $8,834,000. Affinity Wealth Management increased its position in shares of Applied Materials by 0.8% in the 2nd quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock worth $264,000 after purchasing an additional 48 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Applied Materials by 1.5% in the 2nd quarter. Nationwide Fund Advisors now owns 1,522,190 shares of the manufacturing equipment provider’s stock worth $62,882,000 after purchasing an additional 22,998 shares during the last quarter. Institutional investors and hedge funds own 79.76% of the company’s stock.
About Applied Materials
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