Applied Materials (NASDAQ:AMAT – Get Free Report) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $225.00 target price on the manufacturing equipment provider’s stock. KeyCorp’s price objective would suggest a potential upside of 17.16% from the company’s current price.
A number of other research analysts have also weighed in on AMAT. Susquehanna dropped their price target on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Sanford C. Bernstein reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Evercore ISI cut their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Morgan Stanley restated an “underweight” rating and issued a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Finally, Bank of America cut their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.95.
View Our Latest Stock Report on AMAT
Applied Materials Stock Up 3.0 %
Applied Materials (NASDAQ:AMAT – Get Free Report) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Analysts predict that Applied Materials will post 9.37 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in AMAT. Clean Yield Group purchased a new stake in shares of Applied Materials during the third quarter valued at $33,000. First PREMIER Bank boosted its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Applied Materials in the 3rd quarter worth $37,000. DT Investment Partners LLC increased its position in Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. Finally, City Holding Co. purchased a new position in Applied Materials in the fourth quarter worth about $39,000. Institutional investors own 80.56% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.
Further Reading
- Five stocks we like better than Applied Materials
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- Top ETFs That Beat the Market in 2024 and Could Do It Again
- Stock Sentiment Analysis: How it Works
- J.B. Hunt Leads Truckers Lower: Buy Them While They’re Down?
- How to Invest in Insurance Companies: A Guide
- MarketBeat Week in Review – 01/13 – 01/17
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.