Applied Materials, Inc. (AMAT) Upgraded at Vetr Inc.
Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $60.07 price objective on the manufacturing equipment provider’s stock. Vetr‘s target price points to a potential upside of 3.73% from the stock’s previous close.
Several other equities analysts have also recently weighed in on AMAT. Cowen Inc reaffirmed a “buy” rating and set a $50.00 price target on shares of Applied Materials in a research note on Friday, July 28th. BidaskClub cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. B. Riley reissued a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research note on Monday, August 14th. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $52.00 target price on shares of Applied Materials in a report on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Applied Materials presently has an average rating of “Buy” and a consensus price target of $60.83.
Applied Materials (NASDAQ AMAT) traded up $0.23 during trading hours on Monday, reaching $57.91. 3,703,283 shares of the company traded hands, compared to its average volume of 9,852,671. Applied Materials has a 1 year low of $29.85 and a 1 year high of $60.89. 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 firm has a market cap of $61,514.97, a PE ratio of 17.75, a P/E/G ratio of 1.11 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue was up 20.4% on a year-over-year basis. research analysts forecast that Applied Materials will post 3.93 EPS for the current fiscal year.
In other news, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in shares of Applied Materials by 390.4% in 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. Swedbank bought a new position in shares of Applied Materials in the second quarter valued at $135,363,000. Egerton Capital UK LLP boosted its position in Applied Materials by 23.2% during the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after purchasing an additional 3,184,994 shares during the period. Capital Research Global Investors boosted its position in Applied Materials by 14.8% during the second quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock worth $732,213,000 after purchasing an additional 2,284,836 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Applied Materials by 108.7% during the second quarter. Parametric Portfolio Associates LLC now owns 3,690,615 shares of the manufacturing equipment provider’s stock worth $152,459,000 after purchasing an additional 1,922,233 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.
Applied Materials Company Profile
To view Vetr’s full report, visit Vetr’s official website.
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