Applied Materials (NASDAQ:AMAT) Rating Increased to Buy at Edward Jones

Applied Materials (NASDAQ:AMAT) was upgraded by equities research analysts at Edward Jones from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

Several other research firms have also commented on AMAT. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a report on Friday, January 17th. Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Needham & Company LLC reduced their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, Morgan Stanley reissued an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $215.38.

Applied Materials Stock Down 2.0 %

Applied Materials stock opened at $146.99 on Wednesday. The company has a market cap of $119.42 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Applied Materials has a 1-year low of $145.37 and a 1-year high of $255.89. The company has a fifty day simple moving average of $173.37 and a 200 day simple moving average of $180.06. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Research analysts anticipate that Applied Materials will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its board has authorized a share repurchase program on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Applied Materials

Institutional investors and hedge funds have recently modified their holdings of the company. Sargent Investment Group LLC raised its position in Applied Materials by 4.0% during the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock valued at $286,000 after acquiring an additional 55 shares in the last quarter. Biltmore Family Office LLC raised its position in Applied Materials by 5.3% during the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after acquiring an additional 55 shares in the last quarter. Field & Main Bank raised its position in Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after acquiring an additional 55 shares in the last quarter. Bank of New Hampshire raised its position in Applied Materials by 0.8% during the fourth quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock valued at $1,138,000 after acquiring an additional 56 shares in the last quarter. Finally, Grove Bank & Trust raised its position in Applied Materials by 0.8% during the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock valued at $1,202,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Company Profile

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.