Applied Materials (NASDAQ:AMAT) Lowered to “Hold” at StockNews.com

Applied Materials (NASDAQ:AMATGet Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other equities analysts have also commented on AMAT. DA Davidson reduced their price objective on Applied Materials from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, August 19th. Wells Fargo & Company lifted their price objective on Applied Materials from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Cowen lowered their price objective on Applied Materials from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, August 19th. Craig Hallum reduced their target price on Applied Materials from $145.00 to $126.00 and set a “buy” rating for the company in a report on Friday, August 19th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $109.00 target price (up previously from $95.00) on shares of Applied Materials in a report on Tuesday, August 30th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.38.

Applied Materials Trading Down 1.8 %

Shares of Applied Materials stock opened at $88.12 on Wednesday. The stock has a fifty day simple moving average of $99.38 and a 200 day simple moving average of $108.08. Applied Materials has a 12-month low of $82.67 and a 12-month high of $167.06. The company has a market capitalization of $75.81 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.56 and a beta of 1.53. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Applied Materials (NASDAQ:AMATGet Rating) last announced its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.15. Applied Materials had a return on equity of 56.68% and a net margin of 26.42%. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the company earned $1.90 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Materials will post 7.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Applied Materials news, SVP Teri A. Little sold 15,000 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $86.30, for a total transaction of $1,294,500.00. Following the sale, the senior vice president now directly owns 93,169 shares of the company’s stock, valued at approximately $8,040,484.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Applied Materials

A number of institutional investors have recently modified their holdings of the business. State Street Corp grew its position in shares of Applied Materials by 0.5% during the 1st quarter. State Street Corp now owns 40,177,420 shares of the manufacturing equipment provider’s stock valued at $5,295,384,000 after acquiring an additional 192,537 shares during the period. Capital World Investors boosted its holdings in Applied Materials by 21.5% in the 1st quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock worth $4,461,584,000 after buying an additional 5,980,777 shares during the last quarter. Capital International Investors boosted its holdings in Applied Materials by 6.9% in the 1st quarter. Capital International Investors now owns 24,875,796 shares of the manufacturing equipment provider’s stock worth $3,278,728,000 after buying an additional 1,607,427 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Applied Materials by 1.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,122,174 shares of the manufacturing equipment provider’s stock worth $829,935,000 after buying an additional 154,413 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Applied Materials by 14.5% in the 4th quarter. Deutsche Bank AG now owns 7,933,311 shares of the manufacturing equipment provider’s stock worth $1,248,387,000 after buying an additional 1,003,013 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials

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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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