Applied Materials (NASDAQ:AMAT) Rating Lowered to Hold at Redburn Atlantic

Applied Materials (NASDAQ:AMAT - Get Free Report) was downgraded by equities research analysts at Redburn Atlantic from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Marketbeat.com reports. They presently have a $200.00 target price on the manufacturing equipment provider's stock, down from their previous target price of $225.00. Redburn Atlantic's price objective suggests a potential upside of 2.57% from the stock's current price.

Several other analysts also recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price objective on shares of Applied Materials in a report on Friday, May 16th. Raymond James Financial reissued an "outperform" rating and set a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Citigroup increased their price target on Applied Materials from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday. Edward Jones raised Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Jefferies Financial Group raised Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target for the company in a report on Friday, March 28th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has a consensus rating of "Moderate Buy" and an average target price of $202.65.

Applied Materials Stock Up 2.2%

Shares of AMAT stock traded up $4.21 during trading hours on Monday, reaching $194.99. 8,095,416 shares of the company's stock were exchanged, compared to its average volume of 7,091,999. Applied Materials has a 1 year low of $123.74 and a 1 year high of $255.89. The stock has a market cap of $156.48 billion, a PE ratio of 23.72, a PEG ratio of 2.13 and a beta of 1.69. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average price is $168.27 and its two-hundred day moving average price is $164.13.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 EPS. Research analysts predict that Applied Materials will post 9.38 EPS for the current year.

Applied Materials declared that its board has authorized a stock repurchase plan on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at approximately $946,580. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On Applied Materials

Institutional investors have recently modified their holdings of the business. Runnymede Capital Advisors Inc. raised its holdings in shares of Applied Materials by 972.2% in the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after buying an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Applied Materials during the 1st quarter worth approximately $29,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Applied Materials by 435.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider's stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Activest Wealth Management grew its stake in shares of Applied Materials by 5,325.0% in the 1st quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider's stock valued at $31,000 after purchasing an additional 213 shares during the last quarter. Finally, Greenline Partners LLC purchased a new position in shares of Applied Materials in the 1st quarter valued at approximately $39,000. 80.56% of the stock is owned by institutional investors and hedge funds.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.