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Applied Materials (NASDAQ:AMAT) has received an “AA-” credit rating from Morningstar. The agency’s “AA-” rating suggests that the company is a very-low default risk. They also issued a negative credit outlook for the company and gave their stock a two star rating.

A number of other firms have also recently commented on AMAT. Analysts at S&P Equity Research reiterated a “strong-buy” rating on shares of Applied Materials in a research note on Thursday, August 21st. Separately, analysts at Argus reiterated a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 19th. They now have a $22.10 price target on the stock, down previously from $25.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Applied Materials in a research note on Friday, August 15th. They now have a $22.00 price target on the stock. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $24.32.

Applied Materials (NASDAQ:AMAT) opened at 23.105 on Tuesday. Applied Materials has a one year low of $14.99 and a one year high of $23.46. The stock’s 50-day moving average is $21.89 and its 200-day moving average is $20.62. The company has a market cap of $28.151 billion and a price-to-earnings ratio of 28.15. Applied Materials also saw a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 72,718,443 shares, a decline of 4.1% from the July 31st total of 75,851,986 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average daily trading volume, of 11,529,443 shares, the short-interest ratio is currently 6.3 days.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.01. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.29 billion. Analysts expect that Applied Materials will post $1.06 EPS for the current fiscal year.

Applied Materials, Inc (NASDAQ:AMAT) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.

To view more credit ratings from Morningstar, visit www.morningstar.com.

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