Applied Materials (AMAT) Lowered to “Buy” at Vetr

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

AMAT has been the subject of a number of other reports. UBS began coverage on Applied Materials in a research note on Wednesday, April 4th. They set a neutral rating and a $58.00 price objective for the company. Zacks Investment Research downgraded Applied Materials from a buy rating to a hold rating in a research note on Tuesday, February 13th. BidaskClub upgraded Applied Materials from a hold rating to a buy rating in a research note on Saturday, January 20th. Deutsche Bank boosted their price objective on Applied Materials from $65.00 to $70.00 and gave the company a buy rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus boosted their price objective on Applied Materials from $66.00 to $71.00 and gave the company a buy rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Applied Materials presently has an average rating of Buy and an average target price of $64.52.

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NASDAQ AMAT opened at $51.09 on Tuesday. The stock has a market cap of $53,784.67, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63. The company has a quick ratio of 2.25, a current ratio of 2.96 and a debt-to-equity ratio of 0.62. Applied Materials has a 52 week low of $39.47 and a 52 week high of $62.40.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. The company had revenue of $4.20 billion during 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 period in the previous year, the company posted $0.67 EPS. sell-side analysts forecast that Applied Materials will post 4.41 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.57%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio is presently 12.31%.

Applied Materials declared that its board has approved a share repurchase plan on Wednesday, February 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

In other news, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the completion of the transaction, the director now directly owns 76,967 shares in the company, valued at approximately $4,731,161.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Applied Materials by 1.8% during the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock valued at $3,521,655,000 after buying an additional 1,248,388 shares during the period. Geode Capital Management LLC raised its holdings in Applied Materials by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 12,968,458 shares of the manufacturing equipment provider’s stock valued at $661,743,000 after buying an additional 234,528 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Applied Materials by 10.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock valued at $568,507,000 after buying an additional 1,033,700 shares during the period. Lansdowne Partners UK LLP purchased a new stake in Applied Materials during the 4th quarter valued at $370,984,000. Finally, Prudential Financial Inc. raised its holdings in Applied Materials by 1.1% during the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after buying an additional 64,186 shares during the period. Hedge funds and other institutional investors own 79.33% of the company’s stock.

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Applied Materials Company Profile

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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