Applied Materials (NASDAQ:AMAT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other brokerages also recently issued reports on AMAT. Vetr downgraded Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 price target for the company. in a report on Tuesday, November 21st. Nomura restated a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Applied Materials in a report on Tuesday, November 21st. Royal Bank Of Canada increased their price target on Applied Materials from $55.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Credit Suisse Group increased their price target on Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Finally, Needham & Company LLC upped their price objective on Applied Materials to $66.00 and gave the stock a “positive” rating in a research report on Friday, November 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $61.15.

Shares of Applied Materials (NASDAQ AMAT) traded up $1.29 during trading on Thursday, hitting $52.30. The company’s stock had a trading volume of 14,673,722 shares, compared to its average volume of 10,099,590. Applied Materials has a 12 month low of $31.66 and a 12 month high of $60.89. The company has a market capitalization of $55,890.00, a P/E ratio of 15.41, a P/E/G ratio of 0.95 and a beta of 1.80. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. equities research analysts expect that Applied Materials will post 3.96 EPS for the current fiscal year.

In related news, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Applied Materials by 2.3% during the second quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock valued at $3,101,736,000 after purchasing an additional 1,721,964 shares during the last quarter. State Street Corp boosted its position in Applied Materials by 2.1% during the second quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock valued at $2,019,939,000 after purchasing an additional 985,296 shares during the last quarter. Capital Research Global Investors boosted its position in Applied Materials by 14.8% during the second quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after purchasing an additional 2,284,836 shares during the last quarter. Egerton Capital UK LLP boosted its position in Applied Materials by 23.2% during the third quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after purchasing an additional 3,184,994 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Applied Materials by 7.6% during the second quarter. TIAA CREF Investment Management LLC now owns 13,751,324 shares of the manufacturing equipment provider’s stock valued at $568,067,000 after purchasing an additional 973,818 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://theolympiareport.com/2017/12/08/applied-materials-amat-rating-lowered-to-hold-at-bidaskclub.html.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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