Applied Materials (AMAT) Cut to “Neutral” at UBS Group

UBS Group cut shares of Applied Materials (NASDAQ:AMAT) from a positive rating to a neutral rating in a research note released on Tuesday, The Fly reports.

AMAT has been the topic of several other reports. BidaskClub upgraded Applied Materials from a sell rating to a hold rating in a research note on Wednesday, July 18th. Susquehanna Bancshares lowered their target price on Applied Materials from $65.00 to $60.00 and set a positive rating on the stock in a research note on Wednesday, October 3rd. Bank of America lowered their target price on Applied Materials from $70.00 to $65.00 and set a buy rating on the stock in a research note on Friday, August 17th. Citigroup lowered their target price on Applied Materials from $73.00 to $68.00 and set a buy rating on the stock in a research note on Friday, August 17th. Finally, Nomura lowered their target price on Applied Materials from $65.00 to $60.00 and set a buy rating on the stock in a research note on Monday, August 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $60.85.

Applied Materials stock traded down $0.01 during mid-day trading on Tuesday, reaching $32.63. 5,914,576 shares of the company’s stock were exchanged, compared to its average volume of 13,666,788. The firm has a market capitalization of $32.96 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.88 and a beta of 1.49. Applied Materials has a one year low of $31.78 and a one year high of $62.40. The company has a current ratio of 2.52, a quick ratio of 1.67 and a debt-to-equity ratio of 0.78.



Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.42 billion. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. Applied Materials’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. Analysts predict that Applied Materials will post 4.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 23rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 24.62%.

Several hedge funds and other institutional investors have recently made changes to their positions in AMAT. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Applied Materials by 75.4% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 30,700 shares of the manufacturing equipment provider’s stock valued at $1,707,000 after purchasing an additional 13,200 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Applied Materials by 59.1% in the first quarter. Brown Advisory Inc. now owns 33,260 shares of the manufacturing equipment provider’s stock valued at $1,849,000 after purchasing an additional 12,359 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of Applied Materials in the second quarter valued at $636,000. Washington Trust Bank grew its position in shares of Applied Materials by 2.9% in the second quarter. Washington Trust Bank now owns 152,144 shares of the manufacturing equipment provider’s stock valued at $7,028,000 after purchasing an additional 4,332 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Applied Materials in the second quarter valued at $1,247,000. Institutional investors own 77.46% 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.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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