Applied Materials (NASDAQ:AMAT) was upgraded by equities researchers at Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a research note issued on Tuesday.
Other equities analysts also recently issued research reports about the company. Credit Suisse Group restated a “buy” rating and issued a $62.00 target price on shares of Applied Materials in a research note on Tuesday, September 26th. B. Riley upped their price objective on Applied Materials from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, September 25th. DA Davidson reiterated a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research note on Monday, September 25th. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Applied Materials in a research note on Monday, September 25th. Finally, Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 price objective on the stock in a research note on Friday, September 22nd. One equities research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $61.22.
Applied Materials (NASDAQ:AMAT) opened at $53.45 on Tuesday. Applied Materials has a 12 month low of $33.09 and a 12 month high of $60.89. The firm has a market capitalization of $56,460.00, a P/E ratio of 16.86, a PEG ratio of 1.05 and a beta of 1.81. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. research analysts forecast that Applied Materials will post 4.04 earnings per share for the current fiscal year.
In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $51.47, for a total transaction of $6,440,183.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the business’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. Insiders have sold a total of 312,716 shares of company stock worth $16,218,746 in the last three months. Insiders own 0.31% of the company’s stock.
A number of hedge funds have recently modified their holdings of AMAT. Teachers Advisors LLC increased its holdings in shares of Applied Materials by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 3,956,864 shares of the manufacturing equipment provider’s stock worth $127,688,000 after purchasing an additional 109,324 shares during the period. Accident Compensation Corp bought a new position in Applied Materials in the fourth quarter valued at $10,121,000. Huntington National Bank increased its stake in Applied Materials by 303.8% in the second quarter. Huntington National Bank now owns 429,025 shares of the manufacturing equipment provider’s stock valued at $10,284,000 after acquiring an additional 322,784 shares during the last quarter. Mathes Company Inc. bought a new position in Applied Materials in the third quarter valued at $1,613,000. Finally, Commonwealth Bank of Australia increased its stake in Applied Materials by 2.7% in 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 acquiring an additional 2,279 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.
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Applied Materials Company Profile