Applied Materials (AMAT) Cut to Sell at BidaskClub

Applied Materials (NASDAQ:AMAT) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, May 10th, BidAskClub reports.

Several other analysts also recently issued reports on AMAT. Zacks Investment Research downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Royal Bank of Canada raised shares of Applied Materials from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $38.00 to $45.00 in a report on Tuesday, January 29th. ValuEngine downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Stifel Nicolaus reduced their price target on shares of Applied Materials from $63.00 to $53.00 and set a “buy” rating for the company in a report on Monday, February 11th. Finally, DZ Bank cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $52.60.

Shares of AMAT traded up $1.04 during mid-day trading on Friday, hitting $42.70. 18,935,803 shares of the company’s stock were exchanged, compared to its average volume of 10,413,455. Applied Materials has a twelve month low of $28.79 and a twelve month high of $53.23. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.66. The company has a quick ratio of 1.74, a current ratio of 2.72 and a debt-to-equity ratio of 0.65.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.48 billion. Applied Materials had a net margin of 23.50% and a return on equity of 58.28%. Applied Materials’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. As a group, research analysts predict that Applied Materials will post 2.94 earnings per share for the current fiscal year.

In other news, insider Omkaram Nalamasu sold 143,255 shares of Applied Materials stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $40.73, for a total value of $5,834,776.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Steve G. Ghanayem sold 25,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $42.70, for a total transaction of $1,067,500.00. The disclosure for this sale can be found here. Insiders sold 170,255 shares of company stock worth $6,987,176 over the last quarter. 0.44% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Family Legacy Inc. increased its holdings in Applied Materials by 4.4% during the fourth quarter. Family Legacy Inc. now owns 30,602 shares of the manufacturing equipment provider’s stock worth $1,002,000 after buying an additional 1,288 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in Applied Materials during the fourth quarter worth $1,576,000. Pactiv General Employee Benefit Trust acquired a new position in Applied Materials during the fourth quarter worth $18,165,000. XR Securities LLC acquired a new position in Applied Materials during the first quarter worth $619,000. Finally, Chemical Bank increased its holdings in Applied Materials by 3.5% during the first quarter. Chemical Bank now owns 26,575 shares of the manufacturing equipment provider’s stock worth $1,054,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 78.26% 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.

Recommended Story: What is Cost of Capital?

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.