Investment analysts at Wells Fargo & Company began coverage on shares of Applied Materials (NASDAQ:AMAT) in a research note issued on Tuesday. The brokerage set an “outperform” rating and a $65.00 price target on the manufacturing equipment provider’s stock. Wells Fargo & Company’s price target indicates a potential upside of 27.43% from the stock’s current price.
Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Applied Materials in a research note on Friday, October 27th. Bank of America boosted their target price on shares of Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Credit Suisse Group boosted their target price on shares of Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. B. Riley reissued a “buy” rating and set a $63.00 target price on shares of Applied Materials in a research report on Monday, November 13th. Finally, J P Morgan Chase & Co boosted their target price on shares of Applied Materials to $70.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.15.
Shares of Applied Materials (NASDAQ:AMAT) opened at $51.01 on Tuesday. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. Applied Materials has a 52 week low of $31.29 and a 52 week high of $60.89. The stock has a market cap of $53,409.67, a price-to-earnings ratio of 15.41, a P/E/G ratio of 0.95 and a beta of 1.80.
In other news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s 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. Insiders own 0.31% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Shelton Capital Management increased its stake in Applied Materials by 2.5% in the third quarter. Shelton Capital Management now owns 123,001 shares of the manufacturing equipment provider’s stock valued at $6,407,000 after acquiring an additional 3,000 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Applied Materials in the third quarter valued at about $190,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Applied Materials in the third quarter valued at about $2,204,000. Americafirst Capital Management LLC bought a new stake in Applied Materials in the third quarter valued at about $403,000. Finally, Cypress Capital Group bought a new stake in Applied Materials in the third quarter valued at about $365,000. Institutional investors own 78.58% of the company’s stock.
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Applied Materials Company Profile
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