Applied Materials (NASDAQ:AMAT) Cut to Hold at ValuEngine

ValuEngine lowered shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Several other research firms have also weighed in on AMAT. Cowen increased their price objective on shares of Applied Materials from $47.00 to $53.00 and gave the stock an outperform rating in a research note on Friday, May 17th. Bank of America reiterated a neutral rating and set a $52.00 price objective (up previously from $45.00) on shares of Applied Materials in a research note on Friday, May 17th. B. Riley upgraded shares of Applied Materials from a neutral rating to a buy rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Friday, May 17th. Citigroup increased their price objective on shares of Applied Materials from $51.00 to $52.00 and gave the stock a buy rating in a research note on Friday, May 17th. Finally, Needham & Company LLC reiterated a buy rating and set a $52.00 price objective on shares of Applied Materials in a research note on Sunday, May 19th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Applied Materials has an average rating of Buy and a consensus target price of $50.35.

Shares of Applied Materials stock opened at $47.15 on Tuesday. The firm has a market cap of $44.14 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.35 and a beta of 1.68. The firm has a 50-day moving average of $46.55. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. Applied Materials has a 1 year low of $28.79 and a 1 year high of $52.42.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 EPS. Equities analysts expect that Applied Materials will post 2.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. Applied Materials’s payout ratio is currently 18.88%.

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Applied Materials by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,084,669 shares of the manufacturing equipment provider’s stock valued at $183,443,000 after acquiring an additional 77,795 shares in the last quarter. MUFG Americas Holdings Corp boosted its holdings in shares of Applied Materials by 0.9% in the second quarter. MUFG Americas Holdings Corp now owns 358,301 shares of the manufacturing equipment provider’s stock valued at $16,091,000 after acquiring an additional 3,197 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Applied Materials by 11.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 135,366 shares of the manufacturing equipment provider’s stock valued at $6,080,000 after acquiring an additional 14,138 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Applied Materials by 4.3% in the second quarter. Oppenheimer & Co. Inc. now owns 80,753 shares of the manufacturing equipment provider’s stock valued at $3,626,000 after acquiring an additional 3,310 shares in the last quarter. Finally, Northeast Financial Consultants Inc boosted its holdings in shares of Applied Materials by 5.1% in the second quarter. Northeast Financial Consultants Inc now owns 6,148 shares of the manufacturing equipment provider’s stock valued at $276,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 77.63% of the company’s stock.

About Applied Materials

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

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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