DA Davidson downgraded shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $45.00 price objective on the manufacturing equipment provider’s stock, down from their prior price objective of $55.00.
Several other research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a buy rating and set a $52.00 price target on shares of Applied Materials in a report on Sunday, May 19th. Nomura cut their price target on shares of Signet Jewelers from $28.00 to $21.00 and set a neutral rating for the company in a report on Friday, June 7th. Wells Fargo & Co reissued an outperform rating on shares of Applied Materials in a report on Thursday, June 20th. Craig Hallum cut shares of Cray from a buy rating to a hold rating in a report on Friday, May 17th. Finally, Zacks Investment Research raised shares of Investar from a hold rating to a buy rating and set a $27.00 price target for the company in a report on Tuesday, June 4th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Applied Materials has an average rating of Buy and an average price target of $50.95.
Shares of NASDAQ:AMAT traded up $0.56 on Monday, reaching $45.28. The company’s stock had a trading volume of 7,432,031 shares, compared to its average volume of 10,262,925. The business has a 50-day moving average price 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 quick ratio of 1.77, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. The company has a market cap of $41.75 billion, a PE ratio of 10.18, a P/E/G ratio of 2.22 and a beta of 1.69.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the company earned $1.22 earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. On average, sell-side analysts forecast that Applied Materials will post 2.97 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date is Wednesday, August 21st. This represents a $0.84 annualized dividend and a yield of 1.86%. Applied Materials’s payout ratio is currently 18.88%.
Institutional investors and hedge funds have recently modified their holdings of the business. Squar Milner Financial Services LLC grew its position in Applied Materials by 190.8% during the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after buying an additional 458 shares during the period. Princeton Global Asset Management LLC acquired a new position in Applied Materials during the first quarter worth about $27,000. Sontag Advisory LLC acquired a new position in Applied Materials during the fourth quarter worth about $30,000. Lenox Wealth Advisors LLC grew its position in 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 buying an additional 331 shares during the period. Finally, Horan Capital Advisors LLC. acquired a new position in Applied Materials during the first quarter worth about $31,000. Institutional investors own 77.54% of the company’s stock.
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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