Applied Materials (AMAT) Downgraded by Vetr to Buy

Vetr cut shares of Applied Materials (NASDAQ:AMAT) from a strong-buy rating to a buy rating in a research note released on Tuesday. Vetr currently has $63.08 target price on the manufacturing equipment provider’s stock.

A number of other research analysts also recently issued reports on AMAT. UBS began coverage on Applied Materials in a research note on Wednesday, April 4th. They set a neutral rating and a $58.00 price target on the stock. Bank of America began coverage on Applied Materials in a research note on Wednesday, March 21st. They set a buy rating and a $80.00 price target on the stock. ValuEngine upgraded Applied Materials from a hold rating to a buy rating in a research note on Friday, February 2nd. BidaskClub upgraded Applied Materials from a hold rating to a buy rating in a research note on Thursday, March 1st. Finally, Deutsche Bank raised their price target on Applied Materials from $65.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Applied Materials currently has a consensus rating of Buy and an average target price of $64.52.

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NASDAQ:AMAT opened at $57.86 on Tuesday. The company has a market cap of $59,752.57, a P/E ratio of 17.80, a PEG ratio of 0.97 and a beta of 1.63. The company has a current ratio of 2.96, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62. Applied Materials has a 52-week low of $37.60 and a 52-week high of $62.40.



Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same quarter last year, the business posted $0.67 EPS. research analysts expect that Applied Materials will post 4.41 EPS for the current fiscal year.

Applied Materials announced that its board has authorized a share buyback plan on Wednesday, February 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Applied Materials’s payout ratio is 12.31%.

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

Several institutional investors have recently bought and sold shares of AMAT. Financial Gravity Companies Inc. purchased a new stake in shares of Applied Materials in the fourth quarter valued at approximately $110,000. Risk Paradigm Group LLC acquired a new position in Applied Materials during the fourth quarter worth $110,000. Cerebellum GP LLC acquired a new position in Applied Materials during the fourth quarter worth $122,000. SevenBridge Financial Group LLC raised its holdings in Applied Materials by 957.8% during the fourth 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 during the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Applied Materials during the fourth quarter worth $169,000. Hedge funds and other institutional investors own 79.33% of the company’s stock.

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About Applied Materials

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 Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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