Applied Materials (NASDAQ:AMAT) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research analysts have also issued reports on the stock. Royal Bank Of Canada reissued a “buy” rating on shares of Applied Materials in a research note on Friday, October 27th. Bank of America increased their target price on shares of Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Credit Suisse Group increased their target price on shares of Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. B. Riley reissued a “buy” rating and set a $63.00 target price on shares of Applied Materials in a research note on Monday, November 13th. Finally, J P Morgan Chase & Co increased their target price on shares of Applied Materials to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and an average target price of $61.15.

Shares of Applied Materials (NASDAQ:AMAT) traded down $0.87 during midday trading on Thursday, reaching $51.43. 15,058,225 shares of the company traded hands, compared to its average volume of 13,186,272. The company has a market capitalization of $55,777.27, a price-to-earnings ratio of 16.09, a PEG ratio of 1.00 and a beta of 1.80. Applied Materials has a fifty-two week low of $31.66 and a fifty-two week high of $60.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. Applied Materials’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. equities analysts anticipate that Applied Materials will post 3.96 EPS for the current year.

In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mathes Company Inc. bought a new position in shares of Applied Materials during the third quarter valued at about $1,613,000. Commonwealth Bank of Australia lifted its position in shares of Applied Materials by 2.7% during the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock valued at $3,632,000 after purchasing an additional 2,279 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Applied Materials during the second quarter valued at about $2,082,000. Bridgewater Associates LP bought a new position in shares of Applied Materials during the second quarter valued at about $8,834,000. Finally, Paragon Capital Management Ltd bought a new position in shares of Applied Materials during the third quarter valued at about $267,000. 78.58% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/09/bidaskclub-downgrades-applied-materials-amat-to-hold.html.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.