Applied Materials (AMAT) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Applied Materials (NASDAQ:AMAT) from a hold rating to a buy rating in a research note released on Saturday morning.

AMAT has been the topic of several other reports. Vetr raised Applied Materials from a hold rating to a buy rating and set a $60.07 price objective on the stock in a research report on Monday, November 20th. B. Riley reaffirmed a buy rating and issued a $63.00 price objective on shares of Applied Materials in a research report on Monday, November 13th. JPMorgan Chase & Co. upped their price objective on Applied Materials to $70.00 and gave the company an overweight rating in a research report on Friday, November 17th. Zacks Investment Research raised Applied Materials from a hold rating to a buy rating and set a $64.00 price objective on the stock in a research report on Tuesday, November 28th. Finally, Craig Hallum reaffirmed a buy rating and issued a $76.00 price objective (up from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. Twenty-five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $62.76.

Shares of Applied Materials (NASDAQ:AMAT) remained flat at $$57.40 on Friday. The company had a trading volume of 11,367,654 shares, compared to its average volume of 11,550,000. 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 has a one year low of $33.56 and a one year high of $60.89. The stock has a market capitalization of $60,630.00, a P/E ratio of 18.11, a PEG ratio of 1.12 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results 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 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 analysts’ expectations of $3.93 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business’s revenue for the quarter 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.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.70%. Applied Materials’s dividend payout ratio (DPR) is 12.62%.

In other news, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Insiders sold a total of 312,716 shares of company stock valued at $16,218,746 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Ingalls & Snyder LLC purchased a new stake in Applied Materials in the 4th quarter worth $2,625,000. Mathes Company Inc. increased its stake in Applied Materials by 20.1% in the 4th quarter. Mathes Company Inc. now owns 37,200 shares of the manufacturing equipment provider’s stock worth $1,902,000 after buying an additional 6,225 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Applied Materials by 604.2% in the 4th quarter. State of Alaska Department of Revenue now owns 118,510 shares of the manufacturing equipment provider’s stock worth $6,056,000 after buying an additional 101,680 shares in the last quarter. Jolley Asset Management LLC increased its stake in Applied Materials by 1.6% in the 4th quarter. Jolley Asset Management LLC now owns 78,329 shares of the manufacturing equipment provider’s stock worth $4,004,000 after buying an additional 1,238 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Applied Materials by 30,757.9% in the 4th quarter. Acadian Asset Management LLC now owns 11,726 shares of the manufacturing equipment provider’s stock worth $599,000 after buying an additional 11,688 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

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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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