Applied Materials (AMAT) Downgraded by BidaskClub

Applied Materials (NASDAQ:AMAT) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts have also recently issued research reports about the company. B. Riley boosted their price objective on Applied Materials from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, September 25th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 price objective for the company in a research note on Friday, September 22nd. Berenberg Bank reiterated a “buy” rating and issued a $52.00 price objective on shares of Applied Materials in a research note on Thursday, September 28th. Citigroup upped their price target on Applied Materials from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, Nomura restated a “buy” rating and set a $65.00 price target (up previously from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $61.22.

Shares of Applied Materials (NASDAQ AMAT) traded down $0.10 during midday trading on Thursday, reaching $53.20. The company’s stock had a trading volume of 10,677,975 shares, 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. Applied Materials has a one year low of $32.60 and a one year high of $60.89. The stock has a market capitalization of $56,200.00, a PE ratio of 16.78, a P/E/G ratio of 1.07 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. equities analysts predict that Applied Materials will post 4.04 EPS for the current year.

In related 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 transaction of $6,440,183.75. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 have sold 312,716 shares of company stock worth $16,218,746 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. LeJeune Puetz Investment Counsel LLC acquired a new stake in Applied Materials in the third quarter valued at $105,000. MPS Loria Financial Planners LLC acquired a new stake in Applied Materials in the second quarter valued at $109,000. First Personal Financial Services grew its holdings in Applied Materials by 281.5% in the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after purchasing an additional 1,900 shares during the last quarter. Zions Bancorporation grew its holdings in Applied Materials by 349.1% in the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Mosaic Family Wealth LLC grew its holdings in Applied Materials by 56.1% in the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after purchasing an additional 984 shares during the last quarter. 79.76% of the stock is currently owned by hedge funds and other institutional investors.

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