Applied Materials (AMAT) Downgraded by Vetr to Hold

Vetr lowered shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a research note released on Tuesday, January 23rd. The firm currently has $60.05 price target on the manufacturing equipment provider’s stock.

A number of other analysts have also recently commented on AMAT. B. Riley upped their price target 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. Needham & Company LLC reaffirmed a buy rating and set a $54.00 price target on shares of Applied Materials in a research report on Monday, September 25th. DA Davidson reissued a buy rating and set a $55.00 price objective on shares of Applied Materials in a research report on Monday, September 25th. Credit Suisse Group reissued a buy rating and set a $62.00 price objective on shares of Applied Materials in a research report on Tuesday, September 26th. Finally, Craig Hallum reissued a buy rating and set a $76.00 price objective (up previously from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials currently has a consensus rating of Buy and a consensus price target of $63.84.

Shares of Applied Materials (AMAT) traded up $0.30 during trading hours on Tuesday, hitting $52.26. 14,182,544 shares of the stock traded hands, compared to its average volume of 13,903,273. 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 has a 52 week low of $34.58 and a 52 week high of $60.89. The firm has a market capitalization of $54,560.00, a P/E ratio of 16.49, a PEG ratio of 0.97 and a beta of 1.72.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. During the same quarter in the previous year, the firm posted $0.67 earnings per share. sell-side analysts expect that Applied Materials will post 4.04 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be issued a $0.20 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.53%. Applied Materials’s dividend payout ratio (DPR) is 12.62%.

Applied Materials declared that its board has approved a stock buyback program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Omkaram Nalamasu sold 53,466 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Fort Point Capital Partners LLC purchased a new position in Applied Materials in the 4th quarter worth $487,000. BB&T Securities LLC raised its position in Applied Materials by 75.9% in the 4th quarter. BB&T Securities LLC now owns 23,026 shares of the manufacturing equipment provider’s stock worth $1,177,000 after purchasing an additional 9,939 shares during the period. Macquarie Group Ltd. raised its position in Applied Materials by 631.8% in the 4th quarter. Macquarie Group Ltd. now owns 1,962,471 shares of the manufacturing equipment provider’s stock worth $100,438,000 after purchasing an additional 1,694,283 shares during the period. Vident Investment Advisory LLC raised its position in Applied Materials by 6.5% in the 4th quarter. Vident Investment Advisory LLC now owns 57,771 shares of the manufacturing equipment provider’s stock worth $2,953,000 after purchasing an additional 3,509 shares during the period. Finally, Hoylecohen LLC purchased a new position in Applied Materials in the 4th quarter worth $2,225,000. Hedge funds and other institutional investors own 79.30% of the company’s stock.

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Applied Materials Company Profile

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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