Applied Materials (NASDAQ:AMAT) PT Raised to $110.00

Applied Materials (NASDAQ:AMATGet Rating) had its price target hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $95.00 to $110.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the manufacturing equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 5.06% from the company’s previous close.

A number of other analysts have also commented on the stock. Evercore ISI decreased their price target on shares of Applied Materials to $100.00 in a research note on Thursday, October 13th. New Street Research raised shares of Applied Materials from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Friday, October 21st. Needham & Company LLC cut their price target on shares of Applied Materials from $125.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 13th. The Goldman Sachs Group dropped their price objective on shares of Applied Materials from $109.00 to $93.00 and set a “buy” rating on the stock in a report on Thursday, October 13th. Finally, Susquehanna upped their price objective on shares of Applied Materials from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Applied Materials Trading Up 0.2 %

Shares of Applied Materials stock opened at $104.70 on Friday. The firm’s 50 day moving average is $88.65 and its 200 day moving average is $97.45. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. Applied Materials has a 1 year low of $71.12 and a 1 year high of $167.06. The firm has a market capitalization of $90.07 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 3.16 and a beta of 1.49.

Applied Materials (NASDAQ:AMATGet Rating) last issued its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.30. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.44 billion. Applied Materials had a net margin of 25.31% and a return on equity of 57.03%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.94 EPS. Equities research analysts forecast that Applied Materials will post 6.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMAT. Capital World Investors grew its holdings in Applied Materials by 21.5% during the first quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock worth $4,461,584,000 after acquiring an additional 5,980,777 shares during the period. Cowa LLC purchased a new position in shares of Applied Materials in the first quarter valued at approximately $76,000. Egerton Capital UK LLP lifted its position in shares of Applied Materials by 145.2% in the second quarter. Egerton Capital UK LLP now owns 4,907,042 shares of the manufacturing equipment provider’s stock valued at $446,443,000 after acquiring an additional 2,906,043 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Applied Materials in the second quarter valued at approximately $167,770,000. Finally, Capital International Investors lifted its position in shares of Applied Materials by 6.9% in the first quarter. Capital International Investors now owns 24,875,796 shares of the manufacturing equipment provider’s stock valued at $3,278,728,000 after acquiring an additional 1,607,427 shares in the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

Applied Materials Company Profile

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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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