Applied Materials (NASDAQ:AMAT) Earns “Neutral” Rating from Cantor Fitzgerald

Applied Materials (NASDAQ:AMATGet Free Report)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $180.00 price target on the manufacturing equipment provider’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 3.30% from the stock’s previous close.

A number of other analysts also recently commented on AMAT. Barclays increased their price objective on shares of Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. Redburn Atlantic upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a report on Wednesday, November 22nd. Morgan Stanley increased their price target on shares of Applied Materials from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. B. Riley increased their price target on shares of Applied Materials from $175.00 to $220.00 and gave the company a “buy” rating in a research note on Monday. Finally, Mizuho increased their price target on shares of Applied Materials from $162.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.65.

View Our Latest Research Report on AMAT

Applied Materials Stock Performance

NASDAQ:AMAT traded up $0.31 during mid-day trading on Monday, hitting $186.15. The company’s stock had a trading volume of 3,728,293 shares, compared to its average volume of 6,243,836. Applied Materials has a 1 year low of $109.00 and a 1 year high of $188.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.60 and a quick ratio of 1.82. The stock has a market cap of $154.89 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.67 and a beta of 1.55. The business’s fifty day moving average is $160.18 and its two-hundred day moving average is $149.49.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.14. Applied Materials had a net margin of 25.85% and a return on equity of 46.12%. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period in the prior year, the company posted $2.03 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that Applied Materials will post 7.61 EPS for the current fiscal year.

Insider Activity at Applied Materials

In other news, SVP Omkaram Nalamasu sold 23,228 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $162.45, for a total value of $3,773,388.60. Following the completion of the sale, the senior vice president now directly owns 190,972 shares of the company’s stock, valued at $31,023,401.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMAT. California Public Employees Retirement System raised its stake in Applied Materials by 0.3% during the third quarter. California Public Employees Retirement System now owns 2,161,556 shares of the manufacturing equipment provider’s stock worth $299,267,000 after purchasing an additional 6,466 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Applied Materials by 9.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 830,038 shares of the manufacturing equipment provider’s stock worth $114,919,000 after purchasing an additional 69,388 shares during the period. New England Research & Management Inc. purchased a new position in Applied Materials during the third quarter worth approximately $433,000. Claro Advisors LLC raised its stake in Applied Materials by 8.3% during the second quarter. Claro Advisors LLC now owns 5,370 shares of the manufacturing equipment provider’s stock worth $776,000 after purchasing an additional 411 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Applied Materials by 26.5% during the third quarter. Victory Capital Management Inc. now owns 1,068,445 shares of the manufacturing equipment provider’s stock worth $147,926,000 after purchasing an additional 223,984 shares during the period. 77.24% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials

(Get Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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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