Vetr Lowers Applied Materials (AMAT) to Buy
Vetr downgraded shares of Applied Materials (NASDAQ:AMAT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $63.00 target price on the manufacturing equipment provider’s stock.
A number of other brokerages have also recently weighed in on AMAT. Nomura reissued a buy rating and issued a $65.00 price target (up from $55.00) on shares of Applied Materials in a research report on Tuesday, November 21st. Royal Bank of Canada boosted their price target on shares of 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 boosted their price target on shares of Applied Materials from $62.00 to $72.00 and gave the company an outperform rating in a research report on Friday, November 17th. Needham & Company LLC boosted their price target on shares of Applied Materials to $66.00 and gave the company a positive rating in a research report on Friday, November 17th. Finally, Deutsche Bank boosted their price target on shares of Applied Materials from $58.00 to $65.00 and gave the company a buy rating in a research report on Friday, November 17th. Twenty-five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Applied Materials currently has a consensus rating of Buy and an average target price of $62.76.
Applied Materials (NASDAQ AMAT) opened at $57.40 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. The company has a market cap of $60,630.00, a price-to-earnings ratio of 18.11, a P/E/G ratio of 1.12 and a beta of 1.81. Applied Materials has a 12 month low of $33.56 and a 12 month high of $60.89.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. Applied Materials’s payout ratio is 12.62%.
In other news, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction dated Saturday, December 29th. The shares were 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. Insiders sold 312,716 shares of company stock valued at $16,218,746 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
Several large investors have recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC purchased a new position in Applied Materials during the third quarter worth about $105,000. MPS Loria Financial Planners LLC purchased a new position in Applied Materials during the second quarter worth about $109,000. Wunderlich Capital Managemnt raised its holdings in Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after purchasing an additional 87 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Applied Materials during the second quarter worth about $134,000. Finally, First Personal Financial Services raised its holdings in Applied Materials by 281.5% during the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock worth $134,000 after purchasing an additional 1,900 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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