Applied Materials (AMAT) was Upgraded by UBS to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $21 . Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Apr 14, 2016.
Many Wall Street Analysts have commented on Applied Materials. Applied Materials was Downgraded by DA Davidson to ” Neutral” on Apr 6, 2016. Applied Materials was Upgraded by Exane BNP Paribas to ” Outperform” on Mar 31, 2016. Company shares were Reiterated by Cowen on Mar 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 24 from a previous price target of $23 .
On the company’s financial health, Applied Materials reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.25. The company had revenue of $2257.00 million for the quarter, compared to analysts expectations of $2243.06 million. The company’s revenue was down -.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.
Applied Materials opened for trading at $20.95 and hit $21.17 on the upside on Monday, eventually ending the session at $20.94, with a gain of 0.72% or 0.15 points. The heightened volatility saw the trading volume jump to 1,38,09,982 shares. Company has a market cap of $23,677 M.
In a different news, on Apr 7, 2016, Susan M. James (director) sold 8,980 shares at $20.78 per share price. According to the SEC, on Mar 14, 2016, Stephen R Forrest (director) sold 5,000 shares at $19.99 per share price. On Oct 2, 2015, Randhir Thakur (EVP & GM, Silicon Systems) sold 88,435 shares at $14.75 per share price, according to the Form-4 filing with the securities and exchange commission.
Applied Materials Inc. (Applied) provides manufacturing equipment services and software to the global semiconductor flat panel display solar photovoltaic (PV) and related industries. Applied operates in four segments: Silicon Systems Group Applied Global Services Display and Energy and Environmental Solutions. The Silicon Systems Group segment develops manufactures and sells manufacturing equipment used to fabricate semiconductor chips. The Applied Global Services segment encompasses services products and integrated solutions to optimize equipment and fab performance and productivity. The Display Segment includes products for manufacturing liquid crystal displays organic light-emitting diodes and other display technologies for televisions personal computers tablets smartphones and other devices. The Energy and Environmental Solutions segment includes systems for manufacturing wafer-based crystalline silicon cells and modules.