Applied Materials, Inc. (AMAT) Earns Buy Rating from DA Davidson
Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a report released on Monday, July 10th. They currently have a $55.00 price objective on the manufacturing equipment provider’s stock. DA Davidson’s target price would indicate a potential upside of 25.14% from the company’s current price. DA Davidson also issued estimates for Applied Materials’ Q4 2017 earnings at $0.79 EPS, FY2017 earnings at $3.10 EPS, Q1 2018 earnings at $0.73 EPS, FY2018 earnings at $3.20 EPS and Q1 2019 earnings at $0.72 EPS.
AMAT has been the subject of several other research reports. Bank of America Corporation restated a “buy” rating and set a $65.00 price objective (up previously from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price for the company in a report on Thursday, June 29th. B. Riley reiterated a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a report on Saturday, May 20th. UBS AG reiterated a “buy” rating and issued a $44.00 target price on shares of Applied Materials in a report on Monday, March 20th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $35.00 target price on shares of Applied Materials in a report on Tuesday, April 25th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $46.62.
Applied Materials (NASDAQ:AMAT) opened at 43.96 on Monday. Applied Materials has a 52 week low of $25.86 and a 52 week high of $47.86. The company has a market cap of $47.24 billion, a P/E ratio of 18.18 and a beta of 1.82. The company has a 50-day moving average of $44.39 and a 200-day moving average of $40.57.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 44.7% on a year-over-year basis. On average, equities research analysts predict that Applied Materials will post $3.11 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlas Brown Inc. acquired a new position in Applied Materials during the first quarter worth about $257,000. Chevy Chase Trust Holdings Inc. boosted its position in Applied Materials by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,168,127 shares of the manufacturing equipment provider’s stock worth $45,440,000 after buying an additional 27,616 shares in the last quarter. Centre Asset Management LLC acquired a new position in Applied Materials during the first quarter worth about $5,070,000. Park National Corp OH boosted its stake in shares of Applied Materials by 14.6% in the first quarter. Park National Corp OH now owns 13,839 shares of the manufacturing equipment provider’s stock valued at $538,000 after buying an additional 1,768 shares in the last quarter. Finally, Highbridge Capital Management LLC boosted its stake in shares of Applied Materials by 108.8% in the fourth quarter. Highbridge Capital Management LLC now owns 282,191 shares of the manufacturing equipment provider’s stock valued at $9,106,000 after buying an additional 147,033 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.
Applied Materials Company Profile
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