Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Monday, July 24th. The firm currently has a $48.70 price objective on the manufacturing equipment provider’s stock. Vetr‘s price target would indicate a potential upside of 13.73% from the company’s previous close.
A number of other equities research analysts have also issued reports on AMAT. Royal Bank Of Canada reiterated a “hold” rating and issued a $35.00 target price on shares of Applied Materials in a research note on Tuesday, April 25th. B. Riley reiterated a “buy” rating and issued a $44.00 target price on shares of Applied Materials in a research note on Monday, May 15th. Needham & Company LLC increased their target price on Applied Materials from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Stifel Nicolaus increased their price target on Applied Materials from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 15th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a report on Wednesday, May 17th. Four investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $46.62.
Applied Materials (NASDAQ:AMAT) opened at 42.82 on Monday. The firm has a 50-day moving average of $44.39 and a 200-day moving average of $40.57. Applied Materials has a one year low of $25.86 and a one year high of $47.86. The company has a market capitalization of $46.02 billion, a P/E ratio of 17.71 and a beta of 1.82.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 44.7% compared to the same quarter last year. On average, analysts anticipate that Applied Materials will post $3.11 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in AMAT. Reilly Financial Advisors LLC raised its stake in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock valued at $105,000 after buying an additional 1,180 shares in the last quarter. Pinnacle Bank bought a new stake in Applied Materials during the first quarter valued at $113,000. State of Alaska Department of Revenue bought a new stake in Applied Materials during the first quarter valued at $114,000. James Investment Research Inc. raised its stake in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock valued at $119,000 after buying an additional 1,450 shares in the last quarter. Finally, Clean Yield Group bought a new stake in Applied Materials during the first quarter valued at $124,000. 80.06% of the stock is owned by institutional investors and hedge funds.
Applied Materials Company Profile
To view Vetr’s full report, visit Vetr’s official website.
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