Applied Materials (NASDAQ:AMAT) had its price target upped by investment analysts at Wells Fargo & Co from $60.00 to $70.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has an “overweight” rating on the manufacturing equipment provider’s stock. Wells Fargo & Co‘s price objective would suggest a potential upside of 34.51% from the stock’s current price.

AMAT has been the topic of several other research reports. Needham & Company LLC upped their price objective on Applied Materials from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Mizuho reaffirmed a “buy” rating and issued a $62.00 price objective (down previously from $65.00) on shares of Applied Materials in a research report on Thursday. Deutsche Bank cut their price objective on Applied Materials from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. Nomura Securities increased their price target on Applied Materials from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, B. Riley increased their price target on Applied Materials from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $67.35.

Shares of AMAT opened at $52.04 on Friday. The stock has a market capitalization of $49.41 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.32 and a beta of 1.38. Applied Materials has a 1 year low of $36.64 and a 1 year high of $69.44. The business’s 50 day simple moving average is $49.40 and its 200-day simple moving average is $56.26. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.36 and a quick ratio of 1.60.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.02). Applied Materials had a net margin of 18.83% and a return on equity of 36.15%. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the previous year, the company posted $0.70 EPS. On average, sell-side analysts expect that Applied Materials will post 3.74 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its stake in Applied Materials by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 42,104 shares of the manufacturing equipment provider’s stock valued at $2,570,000 after buying an additional 151 shares during the last quarter. Wedbush Securities Inc. raised its stake in Applied Materials by 1.9% in the fourth quarter. Wedbush Securities Inc. now owns 8,679 shares of the manufacturing equipment provider’s stock valued at $530,000 after buying an additional 159 shares during the last quarter. Cerebellum GP LLC raised its stake in Applied Materials by 1.9% in the fourth quarter. Cerebellum GP LLC now owns 9,041 shares of the manufacturing equipment provider’s stock valued at $552,000 after buying an additional 172 shares during the last quarter. Optimum Investment Advisors raised its stake in Applied Materials by 4.8% in the fourth quarter. Optimum Investment Advisors now owns 4,400 shares of the manufacturing equipment provider’s stock valued at $269,000 after buying an additional 200 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its stake in shares of Applied Materials by 2.1% in the fourth quarter. KCM Investment Advisors LLC now owns 9,894 shares of the manufacturing equipment provider’s stock worth $604,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 80.81% of the company’s stock.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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