Applied Materials (NASDAQ:AMAT) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a research note released on Tuesday morning, BidAskClub reports.

Several other analysts have also issued reports on the company. Craig Hallum lowered Cray from a buy rating to a hold rating in a report on Friday, May 17th. B. Riley set a $2.00 target price on Ascena Retail Group and gave the stock a hold rating in a report on Friday, May 17th. ValuEngine upgraded Alleghany from a hold rating to a buy rating in a report on Friday, April 19th. Zacks Investment Research upgraded Investar from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Tuesday, June 4th. Finally, Bank of America set a $120.00 target price on Walmart and gave the stock a buy rating in a report on Friday, May 17th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $50.95.

AMAT opened at $46.51 on Tuesday. 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 $42.39 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 2.28 and a beta of 1.69. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average is $42.24.



Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. Applied Materials’s revenue was down 22.7% on a year-over-year basis. On average, equities research analysts anticipate that Applied Materials will post 2.97 earnings per share for the current year.

The firm 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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, August 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.88%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Applied Materials in the fourth quarter valued at approximately $407,503,000. FMR LLC grew its position in shares of Applied Materials by 52.1% in the fourth quarter. FMR LLC now owns 22,370,392 shares of the manufacturing equipment provider’s stock valued at $732,406,000 after purchasing an additional 7,664,767 shares during the last quarter. Abrams Bison Investments LLC acquired a new position in shares of Applied Materials in the fourth quarter valued at approximately $82,014,000. Two Sigma Advisers LP grew its position in shares of Applied Materials by 292.6% in the fourth quarter. Two Sigma Advisers LP now owns 3,206,685 shares of the manufacturing equipment provider’s stock valued at $104,987,000 after purchasing an additional 2,389,900 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Applied Materials by 194.8% in the fourth quarter. Two Sigma Investments LP now owns 3,445,967 shares of the manufacturing equipment provider’s stock valued at $112,821,000 after purchasing an additional 2,277,227 shares during the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Company Profile

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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