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

Several other equities research analysts also recently weighed in on AMAT. B. Riley reissued a buy rating and set a $61.00 price target on shares of Applied Materials in a research report on Saturday, August 19th. Instinet reissued a buy rating and set a $55.00 price target (up previously from $50.00) on shares of Applied Materials in a research report on Saturday, September 30th. Vetr raised shares of Applied Materials from a hold rating to a buy rating and set a $61.64 price target for the company in a research report on Monday, November 27th. Craig Hallum reissued a buy rating and set a $76.00 price target (up previously from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. Finally, Stifel Nicolaus reissued a buy rating on shares of Applied Materials in a research report on Sunday, October 1st. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Applied Materials currently has an average rating of Buy and an average price target of $61.15.

Applied Materials (NASDAQ AMAT) traded down $0.33 during mid-day trading on Tuesday, hitting $51.97. 8,900,058 shares of the stock traded hands, compared to its average volume of 10,099,685. Applied Materials has a 1 year low of $31.66 and a 1 year high of $60.89. The stock has a market capitalization of $54,401.50, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 0.97 and a beta of 1.80. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last released its 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 firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. analysts forecast that Applied Materials will post 3.96 earnings per share for the current year.

In other news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Applied Materials during the 3rd quarter valued at $105,000. MPS Loria Financial Planners LLC purchased a new position in shares of Applied Materials during the 2nd quarter valued at $109,000. Wunderlich Capital Managemnt lifted its stake in shares of Applied Materials by 2.9% during the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after buying an additional 87 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Applied Materials by 145.4% during the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after buying an additional 1,817 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Applied Materials during the 2nd quarter valued at $134,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

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Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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