Applied Materials was one of 18 companies to receive the honor. The company performed well in the areas Intel measures for the award: quality, cost, availability, technology, customer service, labor and ethics systems and environmental sustainability.
"It is a great honor to receive Intel's Preferred Quality Supplier award for the fourth consecutive year," said Dr. Randhir Thakur, executive vice president and general manager of the Silicon Systems Group at Applied Materials, in a statement. "Our team deeply appreciates our collaboration with Intel, a strong technology leader instrumental in driving the advancement of Moore`s Law. We are very focused on delivering quality products with speed and differentiation that meet Intel's high standards."
Applied Materials was up 1.26% to $19.33 at 11:40 a.m. on Friday.
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Separately, TheStreet Ratings team rates APPLIED MATERIALS INC as a "buy" with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLIED MATERIALS INC (AMAT) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."