Applied Materials’ (AMAT) Outperform Rating Reiterated at Evercore ISI
Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “outperform” rating reissued by Evercore ISI in a report issued on Saturday. They currently have a $65.00 price objective on the manufacturing equipment provider’s stock, up from their previous price objective of $56.00. Evercore ISI’s target price indicates a potential upside of 24.78% from the company’s current price.
Several other analysts have also issued reports on the company. Credit Suisse Group reaffirmed a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 29th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 price objective for the company in a research note on Thursday, June 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised Applied Materials from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $52.00 in a research note on Wednesday, September 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Applied Materials in a research note on Thursday, September 14th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Applied Materials presently has a consensus rating of “Buy” and an average target price of $55.09.
Applied Materials (NASDAQ:AMAT) traded up 2.90% on Friday, hitting $52.09. The stock had a trading volume of 21,008,733 shares. Applied Materials has a 52 week low of $27.56 and a 52 week high of $52.28. The firm has a 50-day moving average of $44.50 and a 200 day moving average of $42.82. The company has a market capitalization of $55.55 billion, a price-to-earnings ratio of 18.52 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. Applied Materials’s revenue was up 32.7% compared to the same quarter last year. On average, analysts predict that Applied Materials will post $3.20 earnings per share for the current year.
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In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Bank of Australia lifted its holdings in shares of Applied Materials by 2.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock valued at $3,632,000 after purchasing an additional 2,279 shares during the last quarter. Oxford Asset Management purchased a new position in Applied Materials in the 1st quarter worth $4,956,000. OMERS ADMINISTRATION Corp purchased a new position in Applied Materials in the 2nd quarter worth $2,082,000. Bridgewater Associates LP purchased a new position in Applied Materials in the 2nd quarter worth $8,834,000. Finally, Outfitter Advisors LTD. raised its stake in Applied Materials by 1.5% in the 1st quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 79.47% of the company’s stock.
Applied Materials Company Profile
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