Applied Materials (NASDAQ:AMAT) PT Raised to $85.00 at Credit Suisse Group

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Applied Materials (NASDAQ:AMAT) had its price objective raised by investment analysts at Credit Suisse Group from $70.00 to $85.00 in a report released on Thursday, The Fly reports. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Credit Suisse Group’s price target suggests a potential upside of 27.15% from the stock’s previous close.

Several other research firms have also commented on AMAT. UBS Group lowered shares of Applied Materials from a “neutral” rating to a “sell” rating in a research note on Wednesday, November 27th. Bank of America raised shares of Applied Materials from a “neutral” rating to a “buy” rating in a research note on Friday, January 10th. Cowen increased their target price on shares of Applied Materials from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank raised shares of Applied Materials from a “hold” rating to a “buy” rating and increased their target price for the company from $60.00 to $72.00 in a research note on Sunday, February 2nd. Finally, BidaskClub raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the stock. Applied Materials has an average rating of “Buy” and an average price target of $71.04.

Shares of NASDAQ:AMAT opened at $66.85 on Thursday. The company has a 50 day moving average of $61.78 and a 200-day moving average of $55.12. The firm has a market cap of $61.41 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.10 and a beta of 1.64. Applied Materials has a twelve month low of $36.80 and a twelve month high of $69.44. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. Applied Materials had a net margin of 18.83% and a return on equity of 36.69%. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts forecast that Applied Materials will post 3.92 EPS for the current year.

In related news, CEO Gary E. Dickerson sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $61.11, for a total value of $61,110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Forrest sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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. 0.41% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. NuWave Investment Management LLC increased its stake in shares of Applied Materials by 661.9% during the 3rd quarter. NuWave Investment Management LLC now owns 1,821 shares of the manufacturing equipment provider’s stock worth $93,000 after purchasing an additional 1,582 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Applied Materials by 11.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,830 shares of the manufacturing equipment provider’s stock worth $2,885,000 after purchasing an additional 5,803 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Applied Materials by 3.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 71,333 shares of the manufacturing equipment provider’s stock worth $3,560,000 after purchasing an additional 2,342 shares in the last quarter. Advisor Partners LLC increased its stake in shares of Applied Materials by 8.3% during the 3rd quarter. Advisor Partners LLC now owns 31,916 shares of the manufacturing equipment provider’s stock worth $1,593,000 after purchasing an additional 2,444 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in shares of Applied Materials by 0.9% during the 3rd quarter. Mission Wealth Management LP now owns 84,189 shares of the manufacturing equipment provider’s stock worth $4,201,000 after purchasing an additional 712 shares in the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.

About Applied Materials

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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