Applied Materials (NASDAQ:AMAT) had its price objective raised by analysts at Stifel Nicolaus from $72.00 to $80.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the manufacturing equipment provider’s stock. Stifel Nicolaus’ price objective points to a potential upside of 19.67% from the company’s previous close.
Several other research analysts have also weighed in on AMAT. Royal Bank of Canada upped their price objective on shares of Applied Materials from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Applied Materials in a research report on Tuesday, January 21st. Argus reissued a “buy” rating and issued a $72.00 target price on shares of Applied Materials in a research report on Monday, November 18th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Applied Materials from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and a consensus target price of $71.04.
Applied Materials stock opened at $66.85 on Thursday. The firm has a market cap of $61.41 billion, a PE ratio of 22.14, a P/E/G ratio of 2.10 and a beta of 1.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.30. The firm’s 50 day moving average price is $61.78 and its two-hundred day moving average price is $55.12. Applied Materials has a twelve month low of $36.80 and a twelve month high of $69.44.
In related news, CEO Gary E. Dickerson sold 1,000,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $61.11, for a total transaction of $61,110,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $62.86, for a total transaction of $188,580.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,053,000 shares of company stock valued at $64,335,080. Corporate insiders own 0.41% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Caxton Associates LP bought a new position in shares of Applied Materials in the 4th quarter valued at about $935,000. Point72 Asset Management L.P. boosted its stake in Applied Materials by 96.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,431,075 shares of the manufacturing equipment provider’s stock worth $148,393,000 after acquiring an additional 1,195,482 shares during the last quarter. Captrust Financial Advisors boosted its stake in Applied Materials by 337.6% during the 4th quarter. Captrust Financial Advisors now owns 28,407 shares of the manufacturing equipment provider’s stock worth $1,767,000 after acquiring an additional 21,916 shares during the last quarter. Bluefin Trading LLC bought a new position in Applied Materials during the 4th quarter worth approximately $2,171,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Applied Materials by 61.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 175,372 shares of the manufacturing equipment provider’s stock worth $10,705,000 after acquiring an additional 66,727 shares during the last quarter. 79.81% of the stock is currently owned by hedge funds and other institutional investors.
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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