Applied Materials (AMAT) Rating Lowered to Buy at Vetr

Applied Materials (NASDAQ:AMAT) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday. They currently have a $63.00 target price on the manufacturing equipment provider’s stock. Vetr‘s price objective would indicate a potential upside of 9.87% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $71.00 target price on shares of Applied Materials in a research note on Tuesday. Susquehanna Bancshares upgraded shares of Applied Materials from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $60.00 to $72.00 in a report on Tuesday. UBS Group upgraded shares of Applied Materials from a “neutral” rating to a “positive” rating in a report on Tuesday. BidaskClub lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Needham & Company LLC upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and raised their price objective for the stock from $66.00 to $72.00 in a report on Monday, January 8th. One analyst has rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and a consensus price target of $62.76.

Applied Materials (NASDAQ:AMAT) traded up $2.84 during midday trading on Wednesday, hitting $57.34. The company had a trading volume of 17,901,791 shares, compared to its average volume of 11,890,000. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $60,570.00, a PE ratio of 18.09, a PEG ratio of 1.05 and a beta of 1.81. Applied Materials has a 12 month low of $33.09 and a 12 month high of $60.89.

Applied Materials (NASDAQ:AMAT) last posted 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 company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. Applied Materials’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. equities analysts anticipate that Applied Materials will post 4.04 EPS for the current year.

In other news, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Insiders have sold 312,716 shares of company stock valued at $16,218,746 over the last quarter. Company insiders own 0.31% of the company’s stock.

Large investors have recently bought and sold shares of the business. MCF Advisors LLC lifted its stake in shares of Applied Materials by 0.3% during the 1st quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 10 shares in the last quarter. Beacon Capital Management purchased a new stake in Applied Materials in the 4th quarter worth $0. Summit Financial Wealth Advisors LLC lifted its stake in Applied Materials by 0.3% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock worth $259,000 after purchasing an additional 19 shares in the last quarter. Guardian Life Insurance Co. of America lifted its stake in Applied Materials by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after purchasing an additional 29 shares in the last quarter. Finally, Adirondack Trust Co. lifted its stake in Applied Materials by 1.1% in the 2nd quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock worth $151,000 after purchasing an additional 40 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

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About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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