Applied Materials, Inc. (AMAT) Downgraded by Vetr Inc. to “Hold”
Applied Materials, Inc. (NASDAQ:AMAT) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. They presently have a $47.76 target price on the manufacturing equipment provider’s stock. Vetr‘s price objective suggests a potential upside of 1.32% from the company’s previous close.
Several other equities research analysts have also recently issued reports on AMAT. UBS AG restated a “buy” rating and set a $52.00 price objective on shares of Applied Materials in a research report on Tuesday, June 13th. B. Riley restated a “buy” rating and set a $56.00 price objective on shares of Applied Materials in a research report on Tuesday, July 11th. Instinet restated a “buy” rating and set a $50.00 price objective (up from $47.00) on shares of Applied Materials in a research report on Monday, August 21st. BidaskClub downgraded shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $51.55.
Shares of Applied Materials (AMAT) traded up 0.19% on Friday, hitting $47.14. The stock had a trading volume of 13,880,440 shares. Applied Materials has a 12-month low of $27.56 and a 12-month high of $47.86. The firm has a market cap of $50.27 billion, a P/E ratio of 16.76 and a beta of 1.81. The company’s 50-day moving average price is $44.31 and its 200 day moving average price is $42.57.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The business’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, equities research analysts forecast that Applied Materials will post $3.20 earnings per share for the current fiscal year.
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In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Wunderlich Capital Managemnt increased its stake in shares of Applied Materials by 2.9% during the 2nd 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 during the last quarter. Bessemer Group Inc. increased its stake in shares of Applied Materials by 145.4% during the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after purchasing an additional 1,817 shares during the last quarter. Clean Yield Group purchased a new stake in shares of Applied Materials during the 1st quarter worth approximately $124,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Applied Materials during the 2nd quarter worth approximately $134,000. Finally, IHT Wealth Management LLC increased its stake in shares of Applied Materials by 67.8% during the 2nd quarter. IHT Wealth Management LLC now owns 3,344 shares of the manufacturing equipment provider’s stock worth $148,000 after purchasing an additional 1,351 shares during the last quarter. Hedge funds and other institutional investors own 79.67% of the company’s stock.
Applied Materials Company Profile
To view Vetr’s full report, visit Vetr’s official website.
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