Applied Materials (AMAT) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Applied Materials (NASDAQ:AMAT) from a hold rating to a buy rating in a report released on Wednesday, December 20th.

Several other analysts have also issued reports on AMAT. B. Riley reaffirmed a buy rating and issued a $61.00 target price on shares of Applied Materials in a research note on Thursday, August 24th. Credit Suisse Group reaffirmed a buy rating on shares of Applied Materials in a research note on Tuesday, August 29th. Goldman Sachs Group raised Applied Materials from a neutral rating to a buy rating and upped their target price for the stock from $49.00 to $52.00 in a research note on Wednesday, September 13th. Morgan Stanley reaffirmed an overweight rating on shares of Applied Materials in a research note on Thursday, September 14th. Finally, Vetr lowered Applied Materials from a buy rating to a hold rating and set a $47.76 target price for the company. in a research note on Friday, September 15th. One investment analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $61.22.

Applied Materials (NASDAQ AMAT) traded down $0.10 during mid-day trading on Wednesday, hitting $53.20. 10,679,548 shares of the company traded hands, compared to its average volume of 12,350,000. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. The company has a market capitalization of $56,200.00, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.81. Applied Materials has a one year low of $32.60 and a one year high of $60.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share 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 net margin of 23.62% and a return on equity of 41.51%. Applied Materials’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. equities analysts anticipate that Applied Materials will post 4.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 21st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a yield of 0.75%. Applied Materials’s dividend payout ratio (DPR) is 12.62%.

In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the stock in a transaction on Saturday, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Omkaram Nalamasu sold 53,466 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total value of $2,833,698.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,716 shares of company stock valued at $16,218,746. 0.31% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMAT. Janus Henderson Group PLC raised its holdings in Applied Materials by 390.4% in the second quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock worth $472,835,000 after purchasing an additional 9,112,328 shares in the last quarter. Egerton Capital UK LLP increased its holdings in shares of Applied Materials by 23.2% during the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after acquiring an additional 3,184,994 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Applied Materials by 14.8% during the second quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after acquiring an additional 2,284,836 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Applied Materials by 108.7% during the second quarter. Parametric Portfolio Associates LLC now owns 3,690,615 shares of the manufacturing equipment provider’s stock valued at $152,459,000 after acquiring an additional 1,922,233 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new position in shares of Applied Materials during the third quarter valued at $97,804,000. Institutional investors and hedge funds own 79.76% of the company’s stock.

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