Applied Materials (NASDAQ:AMAT) had its price objective raised by stock analysts at Cowen from $60.00 to $72.00 in a research note issued to investors on Friday, The Fly reports. Cowen’s target price would suggest a potential upside of 38.36% from the stock’s previous close.

AMAT has been the subject of several other reports. Goldman Sachs Group downgraded Applied Materials from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 24th. Wells Fargo & Co lifted their price objective on Applied Materials from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America reiterated a “buy” rating and issued a $72.00 price objective on shares of Applied Materials in a report on Wednesday, March 11th. ValuEngine upgraded Applied Materials from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Cfra boosted their price target on Applied Materials from $60.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.35.

AMAT opened at $52.04 on Friday. The stock has a 50-day moving average price of $49.40 and a 200-day moving average price of $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. The firm has a market cap of $49.41 billion, a PE ratio of 17.23, a P/E/G 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.

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

Large investors have recently made changes to their positions in the stock. Wealth Quarterback LLC purchased a new position in Applied Materials in the 4th quarter worth approximately $3,822,210,000. Bank of New York Mellon Corp lifted its holdings in Applied Materials by 9.3% in the 1st quarter. Bank of New York Mellon Corp now owns 17,861,988 shares of the manufacturing equipment provider’s stock worth $818,438,000 after purchasing an additional 1,515,901 shares in the last quarter. Davis Selected Advisers lifted its holdings in Applied Materials by 8.4% in the 1st quarter. Davis Selected Advisers now owns 16,342,040 shares of the manufacturing equipment provider’s stock worth $748,792,000 after purchasing an additional 1,262,742 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Applied Materials by 9.3% in the 1st quarter. Nuveen Asset Management LLC now owns 14,977,988 shares of the manufacturing equipment provider’s stock worth $686,292,000 after purchasing an additional 1,269,297 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Applied Materials by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 14,645,853 shares of the manufacturing equipment provider’s stock worth $669,868,000 after purchasing an additional 123,740 shares in the last quarter. Institutional investors own 80.81% of the company’s stock.

Applied Materials Company Profile

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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The Fly

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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