Applied Materials (AMAT) Stock Closed Higher After Announcing Equipment Sale
NEW YORK (TheStreet) -- Shares of Applied Materials (AMAT) - Get Report closed higher by 0.73% to $26.10 on Thursday, as the company announced a $62.68 million equipment sale.
Applied Materials, based in Santa Clara, CA, provides manufacturing equipment and services to semiconductor, display and other related global industries.
The machinery equipment sale comes from Taiwan-based semiconductor company United Microelectronics (ADR), Reuters reports.
Applied Materials stock advanced on Wednesday too, company CEO Gary Dickerson was interviewed by CNBC about its growth. The CEO said the company was entering a "really exciting time."
"We just announced last quarter orders of $3.5 billion [and] guiding to record earnings, 25% above our previous record. We're in the early innings of some big multi-year waves. Memory technology is changing more than it has in decades, especially the growth in 3D NAND," Dickerson explained.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate APPLIED MATERIALS INC as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, notable return on equity, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
You can view the full analysis from the report here: AMAT
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