Applied Materials, Inc. (AMAT)
|Product or Service||Advanced Semiconductor Manufacturing Equipment|
|Application||Equipment for photovoltaic panels.|
|Location||Santa Clara, CA|
Applied Materials Inc. AMAT supplies equipment, services and software to companies that manufacture semiconductors. In other words, companies that make semiconductors go to AMAT for purchasing equipment. Products that AMAT’s equipment is used for ranges from advanced semiconductors, flat panel displays and photovoltaics. The equipment AMAT sells which is used to make solar panels accounts for about 15% of its revenue.
|6/26/2014||Applied Materials approved a proposed $29 billion merger with Japanese PV production equipment provider Tokyo Electron Ltd. Citigroup has reaffirmed its “buy” rating, and set a $26.00 price target. AMAT has been trading flat on the news, but remains up 51% for the year.||Press release|
|6/4/2014||AMAT jumps 6% in two days on upgrade by Jefferies & Co to a ‘Buy’. Applied Materials has more than doubled since October 2011, but is still 66% below its peak during the tech bubble in 1999. We consider AMAT to be Undervalued||Barron’s article|
|5/19/2014||Applied Materials reports strong earnings, with straight line revenue increases over that past 5 quarters and a 40% increase in EPS. AMAT jumps 8%, and is up 39% for the year.||Reuters article|
|11/10/2011||Varian Semiconductor to merge with Applied Materials.||Press release|
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