Craig Hallum Lowers Applied Materials (NASDAQ:AMAT) to Hold

Craig Hallum lowered shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a report issued on Friday morning, BenzingaRatingsTable reports. The brokerage currently has $46.00 target price on the manufacturing equipment provider’s stock, down from their previous target price of $47.00.

A number of other analysts have also recently issued reports on AMAT. Cowen reissued an outperform rating and set a $55.00 price objective (up previously from $53.00) on shares of Applied Materials in a report on Friday. Wells Fargo & Co reissued an outperform rating on shares of Applied Materials in a report on Thursday, June 20th. Susquehanna Bancshares raised Applied Materials from a neutral rating to a positive rating and increased their price objective for the stock from $34.00 to $60.00 in a report on Wednesday, May 15th. Bank of America reissued a neutral rating and set a $52.00 price objective (up previously from $45.00) on shares of Applied Materials in a report on Friday, May 17th. Finally, Stifel Nicolaus set a $57.00 price objective on Applied Materials and gave the stock a buy rating in a report on Monday, August 12th. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Applied Materials presently has a consensus rating of Buy and a consensus target price of $50.90.

Shares of NASDAQ AMAT opened at $46.63 on Friday. Applied Materials has a one year low of $28.79 and a one year high of $52.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. The business’s fifty day moving average price is $47.10 and its 200-day moving average price is $42.51. The stock has a market capitalization of $44.15 billion, a PE ratio of 10.48, a P/E/G ratio of 2.39 and a beta of 1.68.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Applied Materials had a return on equity of 39.83% and a net margin of 19.40%. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, equities analysts expect that Applied Materials will post 2.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. Applied Materials’s payout ratio is currently 18.88%.

Several large investors have recently added to or reduced their stakes in AMAT. Squar Milner Financial Services LLC raised its holdings in shares of Applied Materials by 190.8% in the 1st quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock valued at $27,000 after acquiring an additional 458 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Applied Materials in the 1st quarter valued at about $27,000. Horan Capital Advisors LLC. purchased a new stake in shares of Applied Materials in the 1st quarter valued at about $31,000. Cable Hill Partners LLC raised its holdings in shares of Applied Materials by 378.4% in the 1st quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock valued at $32,000 after acquiring an additional 632 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of Applied Materials in the 1st quarter valued at about $33,000. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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