Applied Materials (NASDAQ:AMAT) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on AMAT. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 price target for the company in a research report on Friday, September 22nd. B. Riley upped their price target on shares of Applied Materials from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, September 25th. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Applied Materials in a research report on Monday, September 25th. DA Davidson restated a “buy” rating and set a $55.00 price target on shares of Applied Materials in a research report on Monday, September 25th. Finally, Credit Suisse Group restated a “buy” rating and set a $62.00 price target on shares of Applied Materials in a research report on Tuesday, September 26th. Twenty-five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Applied Materials presently has an average rating of “Buy” and a consensus target price of $62.76.

Applied Materials (NASDAQ:AMAT) opened at $57.40 on Friday. Applied Materials has a 1 year low of $33.56 and a 1 year high of $60.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14. The firm has a market cap of $60,630.00, a PE ratio of 18.11, a P/E/G ratio of 1.12 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. analysts forecast that Applied Materials will post 4.04 earnings per share for the current year.

In related news, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Also, VP Omkaram Nalamasu sold 53,466 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. In the last three months, insiders sold 312,716 shares of company stock valued at $16,218,746. Corporate insiders own 0.31% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Applied Materials by 2.1% during the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock worth $2,019,939,000 after purchasing an additional 985,296 shares during the period. Capital Research Global Investors boosted its position in shares of Applied Materials by 14.8% during the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock worth $732,213,000 after purchasing an additional 2,284,836 shares during the period. Egerton Capital UK LLP boosted its position in shares of Applied Materials by 23.2% during the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after purchasing an additional 3,184,994 shares during the period. Janus Henderson Group PLC boosted its position in shares of Applied Materials by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after purchasing an additional 650,755 shares during the period. Finally, Epoch Investment Partners Inc. boosted its position in shares of Applied Materials by 2.2% during the 3rd quarter. Epoch Investment Partners Inc. now owns 10,859,674 shares of the manufacturing equipment provider’s stock worth $565,681,000 after purchasing an additional 235,793 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

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About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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