Wells Fargo & Company assumed coverage on shares of Applied Materials (NASDAQ:AMAT) in a report published on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $65.00 price objective on the manufacturing equipment provider’s stock.

Other equities research analysts have also issued reports about the company. Vetr lowered Applied Materials from a strong-buy rating to a buy rating and set a $48.70 target price for the company. in a report on Monday, August 7th. B. Riley restated a buy rating and issued a $56.00 target price on shares of Applied Materials in a report on Monday, August 14th. Zacks Investment Research lowered Applied Materials from a buy rating to a hold rating in a report on Monday, August 14th. Morgan Stanley restated an overweight rating and issued a $52.00 target price on shares of Applied Materials in a report on Monday, August 14th. Finally, Credit Suisse Group boosted their target price on Applied Materials from $5.00 to $62.00 and gave the stock an outperform rating in a report on Friday, August 18th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $61.15.

Shares of Applied Materials (NASDAQ:AMAT) traded down $0.87 during trading on Tuesday, hitting $51.43. The stock had a trading volume of 15,058,225 shares, compared to its average volume of 13,186,272. The firm has a market cap of $55,777.27, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.00 and a beta of 1.80. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57. Applied Materials has a fifty-two week low of $31.66 and a fifty-two week high of $60.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. equities research analysts predict that Applied Materials will post 3.96 EPS for the current year.

In other news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas F. Larkins sold 30,000 shares of the business’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.

Large investors have recently made changes to their positions in the business. Mathes Company Inc. bought a new stake in Applied Materials in the third quarter valued at $1,613,000. Commonwealth Bank of Australia grew its holdings in shares of Applied Materials by 2.7% during the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock worth $3,632,000 after purchasing an additional 2,279 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Applied Materials during the second quarter worth $2,082,000. Bridgewater Associates LP bought a new stake in shares of Applied Materials during the second quarter worth $8,834,000. Finally, Paragon Capital Management Ltd bought a new stake in shares of Applied Materials during the third quarter worth $267,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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