Applied Materials, Inc. (AMAT) PT Raised to $72.00
Applied Materials, Inc. (NASDAQ:AMAT) had its price target lifted by research analysts at Credit Suisse Group from $62.00 to $72.00 in a research report issued on Friday. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Credit Suisse Group’s price objective points to a potential upside of 27.46% from the stock’s current price.
A number of other research firms also recently weighed in on AMAT. Craig Hallum lifted their target price on Applied Materials to $60.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Stifel Nicolaus reissued a “buy” rating on shares of Applied Materials in a report on Sunday, October 1st. Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 target price (up previously from $46.00) on shares of Applied Materials in a report on Sunday, August 20th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price for the company in a report on Thursday, August 10th. Finally, Nomura lifted their target price on Applied Materials from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $59.35.
Shares of Applied Materials (NASDAQ:AMAT) opened at $56.49 on Friday. Applied Materials has a twelve month low of $29.85 and a twelve month high of $60.89. The company has a current ratio of 2.91, a quick ratio of 2.25 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $60,245.86, a price-to-earnings ratio of 17.38, a PEG ratio of 0.91 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 42.96% and a net margin of 23.62%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. research analysts forecast that Applied Materials will post 3.86 EPS for the current fiscal year.
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In related news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Applied Materials in the third quarter valued at approximately $2,204,000. Americafirst Capital Management LLC bought a new stake in Applied Materials in the third quarter valued at approximately $403,000. Cypress Capital Group bought a new stake in Applied Materials in the third quarter valued at approximately $365,000. Belpointe Asset Management LLC bought a new stake in Applied Materials in the third quarter valued at approximately $741,000. Finally, Independent Advisor Alliance boosted its holdings in Applied Materials by 23.6% in the third quarter. Independent Advisor Alliance now owns 14,710 shares of the manufacturing equipment provider’s stock valued at $775,000 after acquiring an additional 2,809 shares during the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.
Applied Materials Company Profile
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