Goldman Sachs Adds Applied Materials to Conviction Buy List (AMAT)
Goldman Sachs reported on Tuesday that they have added semiconductor-equipment maker, Applied Materials, Inc.(AMAT) to their Conviction Buy List.
The firm has raised their rating for AMAT from “Buy” to “Conviction Buy.”
An analyst from the firm commented, “we view Mr. Halliday, together with Mr. Dickerson (prior CEO of Varian), as key to the company’s success in growing implant share from 30% in 2004 to 70% in 2011, when Applied acquired Varian at a 50%+ premium,” the analyst said. “We believe Mr. Halliday’s track record and prior success bodes well for Applied’s ability to execute on a more streamlined cost structure and potential share gain in SPE.”
Applied Materials shares were up 30 cents, or 2.25% during Tuesday afternoon trading. The stock has increased 7% in the past year.
The Bottom Line
Shares of Applied Materials, Inc.(AMAT) have a 2.66% yield, based on Tuesday afternoon’s price of $13.51.
Applied Materials, Inc.(AMAT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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