Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “overweight” rating reaffirmed by stock analysts at Morgan Stanley in a note issued to investors on Thursday.
Several other research firms have also recently weighed in on AMAT. UBS AG reissued 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. B. Riley reissued a “buy” rating and issued a $56.00 price objective on shares of Applied Materials in a research report on Saturday, May 20th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price objective for the company in a research report on Thursday, August 10th. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Credit Suisse Group increased their price objective on Applied Materials from $5.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $51.55.
Applied Materials (AMAT) traded up 0.19% on Thursday, hitting $47.14. 13,880,440 shares of the stock were exchanged. Applied Materials has a one year low of $27.56 and a one year high of $47.86. The company has a market cap of $50.27 billion, a P/E ratio of 16.76 and a beta of 1.81. The company’s 50 day moving average price is $44.31 and its 200-day moving average price is $42.57.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities research analysts predict that Applied Materials will post $3.20 EPS for the current fiscal year.
In related news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Oxford Asset Management acquired a new stake in Applied Materials in the first quarter worth about $4,956,000. Karp Capital Management Corp acquired a new stake in Applied Materials in the first quarter worth about $17,549,000. OMERS ADMINISTRATION Corp acquired a new stake in Applied Materials in the second quarter worth about $2,082,000. Outfitter Advisors LTD. increased its position in Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after purchasing an additional 600 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Applied Materials in the first quarter worth about $113,715,000. Hedge funds and other institutional investors own 79.67% of the company’s stock.
Applied Materials Company Profile
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