Applied Materials (NASDAQ:AMAT) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $76.00 price target on the manufacturing equipment provider’s stock. DA Davidson’s price objective points to a potential upside of 13.69% from the company’s previous close.
Several other research analysts have also recently weighed in on the company. ValuEngine cut Applied Materials from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Cowen boosted their target price on Applied Materials from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday. DZ Bank cut Applied Materials from a “hold” rating to a “sell” rating and set a $46.00 price objective on the stock. in a report on Tuesday, October 29th. Nomura upped their price objective on Applied Materials from $68.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Royal Bank of Canada upped their price objective on Applied Materials from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Three equities research 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. The company currently has a consensus rating of “Buy” and a consensus price target of $71.04.
Shares of Applied Materials stock opened at $66.85 on Thursday. The stock 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. The stock’s 50 day simple moving average is $61.78 and its 200-day simple moving average is $55.12. Applied Materials has a 1-year low of $36.80 and a 1-year high of $69.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.30 and a quick ratio of 1.51.
In other Applied Materials news, SVP Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $60.73, for a total value of $3,036,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 3,000 shares of the business’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 value of $188,580.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,053,000 shares of company stock worth $64,335,080. 0.41% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in Applied Materials in the fourth quarter valued at approximately $27,000. Altshuler Shaham Ltd raised its position in Applied Materials by 7,516.7% in the fourth quarter. Altshuler Shaham Ltd now owns 457 shares of the manufacturing equipment provider’s stock valued at $28,000 after purchasing an additional 451 shares during the period. Raab & Moskowitz Asset Management LLC purchased a new stake in Applied Materials in the fourth quarter valued at approximately $29,000. Cedar Wealth Management LLC purchased a new stake in Applied Materials in the fourth quarter valued at approximately $34,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Applied Materials in the third quarter valued at approximately $29,000. 79.81% of the stock is currently owned by 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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