Applied Materials, Inc. (AMAT) PT Raised to $64.00

Applied Materials, Inc. (NASDAQ:AMAT) had its price target hoisted by equities research analysts at Royal Bank Of Canada from $55.00 to $64.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the manufacturing equipment provider’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 13.29% from the company’s previous close.

Several other analysts also recently commented on the stock. Bank of America Corporation upped their price target on shares of Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley reiterated a “buy” rating and issued a $63.00 price target on shares of Applied Materials in a research report on Monday, November 13th. Deutsche Bank AG reiterated a “buy” rating and issued a $58.00 price target on shares of Applied Materials in a research report on Thursday, October 12th. Citigroup Inc. reiterated a “buy” rating and issued a $58.00 price target on shares of Applied Materials in a research report on Thursday, October 12th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Applied Materials in a research report on Sunday, October 1st. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Applied Materials presently has an average rating of “Buy” and a consensus price target of $59.35.

Shares of Applied Materials (NASDAQ AMAT) opened at $56.49 on Friday. Applied Materials has a 12-month low of $29.85 and a 12-month high of $60.89. The company has a market cap of $60,245.86, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.91 and a beta of 1.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.91 and a quick ratio of 2.25.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 42.96%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Applied Materials’s revenue for the quarter was up 20.4% on a year-over-year basis. equities analysts forecast that Applied Materials will post 3.86 earnings per share for the current year.

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In other news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Applied Materials during the 3rd quarter worth about $105,000. MPS Loria Financial Planners LLC purchased a new position in shares of Applied Materials during the 2nd quarter worth about $109,000. Wunderlich Capital Managemnt lifted its holdings in shares of Applied Materials by 2.9% during the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after acquiring an additional 87 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Applied Materials by 145.4% during the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after acquiring an additional 1,817 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Applied Materials during the 2nd quarter worth about $134,000. Institutional investors and hedge funds own 79.35% of the company’s stock.

Applied Materials Company Profile

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