Applied Materials (AMAT) Upgraded at BidaskClub

Applied Materials (NASDAQ:AMAT) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other equities analysts have also recently issued research reports about the stock. Instinet reaffirmed a “buy” rating and set a $55.00 price objective (up previously from $50.00) on shares of Applied Materials in a research note on Saturday, September 30th. Credit Suisse Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Applied Materials in a research note on Tuesday, September 26th. B. Riley lifted their target price on shares of Applied Materials from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, September 25th. DA Davidson reiterated a “buy” rating and set a $55.00 target price on shares of Applied Materials in a research report on Monday, September 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Applied Materials in a research report on Monday, September 25th. Twenty-five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and an average price target of $62.76.

Shares of Applied Materials (NASDAQ AMAT) remained flat at $$57.40 during trading hours on Friday. 11,456,716 shares of the company were exchanged, compared to its average volume of 11,870,000. The company has a market cap of $60,630.00, a PE ratio of 18.11, a PEG ratio of 1.12 and a beta of 1.81. Applied Materials has a 1 year low of $33.56 and a 1 year high of $60.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43.

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, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. analysts anticipate that Applied Materials will post 4.04 EPS for the current 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 filing with the SEC, which can be accessed 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. Over the last three months, insiders have sold 312,716 shares of company stock worth $16,218,746. Insiders own 0.31% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Summit Financial Wealth Advisors LLC increased its position in Applied Materials by 0.3% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after purchasing an additional 19 shares during the period. Wunderlich Capital Managemnt increased its position in Applied Materials by 2.9% during the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after purchasing an additional 87 shares during the period. Albion Financial Group UT grew its position in shares of Applied Materials by 0.8% in the 2nd quarter. Albion Financial Group UT now owns 16,534 shares of the manufacturing equipment provider’s stock worth $683,000 after buying an additional 133 shares during the period. San Francisco Sentry Investment Group CA grew its position in shares of Applied Materials by 1.5% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 11,859 shares of the manufacturing equipment provider’s stock worth $490,000 after buying an additional 173 shares during the period. Finally, Mosaic Family Wealth LLC grew its position in shares of Applied Materials by 56.1% in the 3rd quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 984 shares during the period. 79.77% of the stock is currently 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.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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