Craig Hallum Upgrades Applied Materials (NASDAQ:AMAT) to “Buy”

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

AMAT has been the topic of a number of other research reports. BidaskClub downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, June 4th. Stifel Nicolaus set a $57.00 price objective on Applied Materials and gave the stock a “buy” rating in a research note on Monday, August 12th. Susquehanna Bancshares raised Applied Materials from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $34.00 to $60.00 in a research note on Wednesday, May 15th. Finally, Goldman Sachs Group downgraded Applied Materials from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $50.90.

NASDAQ AMAT traded down $0.53 during trading hours on Friday, reaching $46.63. The company’s stock had a trading volume of 17,658,200 shares, compared to its average volume of 8,981,748. The firm’s 50-day moving average price is $47.10 and its 200-day moving average price is $42.51. The company has a quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. Applied Materials has a 1 year low of $28.79 and a 1 year high of $52.42. The company has a market capitalization of $43.65 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 2.37 and a beta of 1.68.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. Equities research analysts anticipate that Applied Materials will post 2.96 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JNBA Financial Advisors increased its position in shares of Applied Materials by 0.8% during the 2nd quarter. JNBA Financial Advisors now owns 24,070 shares of the manufacturing equipment provider’s stock valued at $1,081,000 after purchasing an additional 200 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Applied Materials by 0.6% during the 2nd quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock valued at $1,926,000 after purchasing an additional 248 shares during the last quarter. ETRADE Capital Management LLC grew its position in Applied Materials by 3.3% in the 2nd quarter. ETRADE Capital Management LLC now owns 7,725 shares of the manufacturing equipment provider’s stock valued at $347,000 after acquiring an additional 248 shares during the last quarter. Evermay Wealth Management LLC grew its position in Applied Materials by 4.1% in the 1st quarter. Evermay Wealth Management LLC now owns 6,409 shares of the manufacturing equipment provider’s stock valued at $254,000 after acquiring an additional 250 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in Applied Materials by 4.2% in the 2nd quarter. Park Avenue Securities LLC now owns 6,320 shares of the manufacturing equipment provider’s stock valued at $284,000 after acquiring an additional 257 shares during the last quarter. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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