Vetr Inc. Lowers Applied Materials, Inc. (AMAT) to Hold

Applied Materials, Inc. (NASDAQ:AMAT) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Tuesday. They presently have a $61.08 price objective on the manufacturing equipment provider’s stock. Vetr‘s price target indicates a potential upside of 3.88% from the company’s previous close.

Other research analysts have also issued reports about the company. Craig Hallum raised their target price on Applied Materials to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. B. Riley reaffirmed a “buy” rating and set a $61.00 target price on shares of Applied Materials in a research report on Saturday, August 19th. Nomura raised their target price on Applied Materials from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Deutsche Bank AG raised their target price on Applied Materials from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $61.00 target price (up from $55.00) on shares of Applied Materials in a research report on Friday, August 18th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $60.83.

Shares of Applied Materials (NASDAQ AMAT) traded up $1.18 on Tuesday, hitting $58.80. The stock had a trading volume of 10,198,016 shares, compared to its average volume of 9,886,875. Applied Materials has a one year low of $29.85 and a one year high of $60.89. The company has a market cap of $62,710.00, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. 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 (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS 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 period in the prior year, the company earned $0.66 EPS. Applied Materials’s revenue was up 20.4% compared to the same quarter last year. research analysts anticipate that Applied Materials will post 3.86 earnings per share for the current fiscal year.

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In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas F. Larkins sold 30,000 shares of Applied Materials stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Applied Materials during the 3rd quarter worth approximately $2,204,000. Americafirst Capital Management LLC bought a new position in shares of Applied Materials during the 3rd quarter worth approximately $403,000. Cypress Capital Group bought a new position in shares of Applied Materials during the 3rd quarter worth approximately $365,000. Belpointe Asset Management LLC bought a new position in shares of Applied Materials during the 3rd quarter worth approximately $741,000. Finally, Independent Advisor Alliance lifted its position in shares of Applied Materials by 23.6% during the 3rd quarter. Independent Advisor Alliance now owns 14,710 shares of the manufacturing equipment provider’s stock worth $775,000 after buying an additional 2,809 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Company Profile

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