TD Cowen Increases Applied Materials (NASDAQ:AMAT) Price Target to $165.00

Applied Materials (NASDAQ:AMAT) had its price target increased by TD Cowen from $160.00 to $165.00 in a research note issued on Friday, Briefing.com reports. The firm currently has an “outperform” rating on the manufacturing equipment provider’s stock. TD Cowen’s target price indicates a potential upside of 11.04% from the company’s current price.

A number of other analysts have also issued reports on the company. Sanford C. Bernstein lifted their price target on Applied Materials from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 18th. The Goldman Sachs Group lifted their price objective on Applied Materials from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Berenberg Bank lifted their price objective on Applied Materials from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Morgan Stanley lifted their price objective on Applied Materials from $125.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Finally, Mizuho reiterated a “buy” rating and set a $158.00 price objective on shares of Applied Materials in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.29.

Applied Materials Stock Down 4.0 %

Shares of AMAT opened at $148.59 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.59 and a debt-to-equity ratio of 0.36. Applied Materials has a 12 month low of $93.68 and a 12 month high of $157.76. The stock’s 50 day moving average is $140.13 and its two-hundred day moving average is $139.14. The firm has a market cap of $124.75 billion, a P/E ratio of 19.60, a PEG ratio of 3.80 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.14. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.52 billion. Applied Materials had a return on equity of 49.29% and a net margin of 24.27%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. Analysts predict that Applied Materials will post 7.9 earnings per share for the current fiscal year.

Insider Transactions at Applied Materials

In other news, CFO Brice Hill sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $150.04, for a total transaction of $150,040.00. Following the completion of the transaction, the chief financial officer now directly owns 106,023 shares of the company’s stock, valued at approximately $15,907,690.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Trading of Applied Materials

A number of large investors have recently made changes to their positions in AMAT. Mcmillion Capital Management Inc. purchased a new stake in Applied Materials during the 2nd quarter valued at approximately $29,000. CGC Financial Services LLC purchased a new stake in Applied Materials during the 2nd quarter valued at approximately $29,000. M&R Capital Management Inc. raised its stake in Applied Materials by 110.0% during the 2nd quarter. M&R Capital Management Inc. now owns 210 shares of the manufacturing equipment provider’s stock valued at $30,000 after acquiring an additional 110 shares during the last quarter. Chelsea Counsel Co. purchased a new stake in Applied Materials during the 1st quarter valued at approximately $28,000. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in shares of Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of 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.