Applied Materials (AMAT) Downgraded by ValuEngine to “Hold”

Applied Materials (NASDAQ:AMAT) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Other research analysts have also recently issued research reports about the company. UBS upgraded Applied Materials from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 16th. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, February 19th. Vetr cut Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.08 target price for the company. in a research note on Tuesday. Needham & Company LLC upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $72.00 in a research note on Monday, January 8th. Finally, Bank of America started coverage on Applied Materials in a research note on Wednesday, March 21st. They issued a “buy” rating and a $80.00 target price for the company. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Applied Materials presently has an average rating of “Buy” and an average price target of $64.52.

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NASDAQ AMAT traded down $3.54 on Thursday, hitting $51.19. The company’s stock had a trading volume of 24,258,700 shares, compared to its average volume of 14,395,491. Applied Materials has a 52-week low of $39.15 and a 52-week high of $62.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. The stock has a market cap of $60,792.75, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.99 and a beta of 1.63.

Applied Materials (NASDAQ:AMAT) last released 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. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business posted $0.67 EPS. sell-side analysts predict that Applied Materials will post 4.41 earnings per share for the current year.

Applied Materials declared that its board has authorized a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Thomas J. Iannotti sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the completion of the transaction, the director now owns 76,967 shares of the company’s stock, valued at approximately $4,731,161.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Financial Gravity Companies Inc. bought a new stake in shares of Applied Materials in the 4th quarter worth $110,000. Risk Paradigm Group LLC bought a new stake in shares of Applied Materials in the 4th quarter worth $110,000. SevenBridge Financial Group LLC increased its holdings in shares of Applied Materials by 957.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock worth $122,000 after purchasing an additional 2,155 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Applied Materials in the 4th quarter worth $122,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in shares of Applied Materials in the 4th quarter worth $169,000. 79.33% of the stock is owned by institutional investors and hedge funds.

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Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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