Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Thursday, June 29th. The firm currently has a $46.48 price target on the manufacturing equipment provider’s stock. Vetr‘s price objective indicates a potential upside of 2.72% from the company’s previous close.
A number of other research firms have also recently issued reports on AMAT. Bank of America Corporation reaffirmed a “buy” rating and issued a $54.00 price objective (up from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $40.00 price objective (up from $35.00) on shares of Applied Materials in a research report on Wednesday, May 17th. UBS AG reaffirmed a “buy” rating and issued a $51.00 price objective (up from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, B. Riley reissued a “buy” rating and set a $56.00 price target on shares of Applied Materials in a report on Thursday, May 25th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.62.
Applied Materials (AMAT) traded down 1.72% during mid-day trading on Thursday, hitting $45.25. 9,584,336 shares of the stock were exchanged. The company has a 50-day moving average price of $44.41 and a 200-day moving average price of $40.32. Applied Materials has a one year low of $25.68 and a one year high of $47.86. The company has a market cap of $48.63 billion, a P/E ratio of 18.71 and a beta of 1.81. Applied Materials also was the recipient of some unusual options trading on Wednesday. Stock investors bought 2,307 call options on the stock. This is an increase of 118% compared to the average daily volume of 1,060 call options.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up 44.7% compared to the same quarter last year. On average, analysts predict that Applied Materials will post $3.11 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Independent Advisor Alliance acquired a new position in shares of Applied Materials during the fourth quarter worth about $105,000. Reilly Financial Advisors LLC increased its position in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares in the last quarter. Pinnacle Bank acquired a new position in shares of Applied Materials during the first quarter worth about $113,000. State of Alaska Department of Revenue acquired a new position in shares of Applied Materials during the first quarter worth about $114,000. Finally, James Investment Research Inc. increased its position in shares of Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares in the last quarter. 80.18% of the stock is currently owned by institutional investors.
Applied Materials Company Profile
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