Applied Materials (NASDAQ:AMAT) Downgraded by DA Davidson to “Neutral”

DA Davidson lowered shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a neutral rating in a research note released on Monday, BenzingaRatingsTable reports. They currently have $45.00 target price on the manufacturing equipment provider’s stock, down from their prior target price of $55.00.

Several other equities research analysts have also recently commented on AMAT. Citigroup set a $8.00 price target on shares of Diamond Offshore Drilling and gave the stock a sell rating in a research report on Friday, May 17th. Craig Hallum lowered Cray from a buy rating to a hold rating in a research note on Friday, May 17th. Susquehanna Bancshares began coverage on MKS Instruments in a research note on Wednesday, May 15th. They issued a positive rating and a $123.00 target price for the company. Needham & Company LLC restated a buy rating and issued a $52.00 target price on shares of Applied Materials in a research note on Sunday, May 19th. Finally, UBS Group set a $25.00 target price on Macy’s and gave the company a hold rating in a research note on Friday, May 17th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $50.95.

Shares of Applied Materials stock opened at $45.28 on Monday. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $42.10. Applied Materials has a 52 week low of $28.79 and a 52 week high of $50.39. The company has a market capitalization of $41.86 billion, a PE ratio of 10.18, a PEG ratio of 2.26 and a beta of 1.69.



Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.66 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the business earned $1.22 earnings per share. Applied Materials’s revenue for the quarter was down 22.7% compared to the same quarter last year. Equities research analysts anticipate that Applied Materials will post 2.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s dividend payout ratio (DPR) is 18.88%.

A number of large investors have recently made changes to their positions in AMAT. Squar Milner Financial Services LLC lifted its stake in Applied Materials by 190.8% in the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock valued at $27,000 after buying an additional 458 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of Applied Materials during the first quarter worth about $27,000. Lenox Wealth Advisors LLC raised its position in shares of Applied Materials by 73.7% during the first quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock worth $31,000 after purchasing an additional 331 shares during the period. Horan Capital Advisors LLC. acquired a new stake in shares of Applied Materials during the first quarter worth about $31,000. Finally, Cable Hill Partners LLC raised its position in shares of Applied Materials by 378.4% during the first quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock worth $32,000 after purchasing an additional 632 shares during the period. Hedge funds and other institutional investors own 77.54% 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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