BidaskClub Upgrades Applied Materials (AMAT) to “Buy”

Applied Materials (NASDAQ:AMAT) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other equities research analysts have also recently issued reports on AMAT. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, February 19th. Vetr cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $62.52 target price on the stock. in a research note on Tuesday, February 20th. Credit Suisse Group reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $74.00) on shares of Applied Materials in a research note on Monday, February 26th. Bank of America started coverage on shares of Applied Materials in a research note on Wednesday, March 21st. They set a “buy” rating and a $80.00 target price on the stock. Finally, UBS Group started coverage on shares of Applied Materials in a research note on Wednesday, April 4th. They set a “neutral” rating and a $58.00 target price on the stock. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.20.

Applied Materials traded down $0.99, reaching $48.32, during trading on Monday, MarketBeat.com reports. The company had a trading volume of 13,756,580 shares, compared to its average volume of 14,664,191. Applied Materials has a 1-year low of $40.79 and a 1-year high of $62.40. The stock has a market capitalization of $49.71 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.82 and a beta of 1.64. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.60.



Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 17th. The manufacturing equipment provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.08. Applied Materials had a net margin of 19.24% and a return on equity of 51.65%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the previous year, the company posted $0.79 EPS. sell-side analysts predict that Applied Materials will post 4.6 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. raised its holdings in Applied Materials by 5.2% in the 1st quarter. Wetherby Asset Management Inc. now owns 19,210 shares of the manufacturing equipment provider’s stock valued at $1,068,000 after buying an additional 955 shares during the period. IHT Wealth Management LLC raised its holdings in Applied Materials by 18.7% in the 1st quarter. IHT Wealth Management LLC now owns 6,121 shares of the manufacturing equipment provider’s stock valued at $324,000 after buying an additional 965 shares during the period. Blue Pool Management Ltd. raised its holdings in Applied Materials by 0.4% in the 1st quarter. Blue Pool Management Ltd. now owns 265,500 shares of the manufacturing equipment provider’s stock valued at $14,764,000 after buying an additional 1,000 shares during the period. Bbva Compass Bancshares Inc. raised its holdings in Applied Materials by 27.7% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 4,799 shares of the manufacturing equipment provider’s stock valued at $245,000 after buying an additional 1,041 shares during the period. Finally, Holderness Investments Co. raised its holdings in Applied Materials by 1.2% in the 1st quarter. Holderness Investments Co. now owns 91,687 shares of the manufacturing equipment provider’s stock valued at $5,099,000 after buying an additional 1,107 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries 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.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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