Cowen Analysts Give Applied Materials (NASDAQ:AMAT) a $160.00 Price Target

Applied Materials (NASDAQ:AMATGet Rating) received a $160.00 target price from equities researchers at Cowen in a note issued to investors on Monday, Stock Target Advisor reports. Cowen’s price target suggests a potential upside of 78.11% from the company’s previous close.

Several other research analysts have also recently weighed in on AMAT. The Goldman Sachs Group reduced their price target on shares of Applied Materials from $151.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 23rd. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Monday, May 23rd. Craig Hallum reduced their target price on shares of Applied Materials from $170.00 to $145.00 and set a “buy” rating for the company in a report on Friday, May 20th. Piper Sandler reduced their target price on shares of Applied Materials from $153.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, May 20th. Finally, Barclays reduced their target price on shares of Applied Materials from $150.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, May 20th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $154.81.

NASDAQ:AMAT traded up $0.24 during trading hours on Monday, hitting $89.83. The stock had a trading volume of 658,798 shares, compared to its average volume of 8,474,437. Applied Materials has a one year low of $87.62 and a one year high of $167.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.54 and a current ratio of 2.29. The company has a market cap of $78.15 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.34 and a beta of 1.43. The business’s 50 day moving average is $110.76 and its 200-day moving average is $130.13.

Applied Materials (NASDAQ:AMATGet Rating) last issued its earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.05). Applied Materials had a net margin of 27.20% and a return on equity of 57.17%. The firm had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the previous year, the company posted $1.63 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Materials will post 7.54 EPS for the current fiscal year.

Applied Materials declared that its board has approved a share repurchase program on Friday, March 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Large investors have recently added to or reduced their stakes in the stock. Monolith Advisors bought a new position in Applied Materials in the 4th quarter valued at about $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in Applied Materials in the 1st quarter valued at about $25,000. Center for Financial Planning Inc. bought a new position in Applied Materials in the 1st quarter valued at about $25,000. Hanson & Doremus Investment Management increased its holdings in Applied Materials by 1,538.5% in the 4th quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment provider’s stock valued at $34,000 after buying an additional 200 shares during the period. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Applied Materials in the 4th quarter valued at about $35,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials (Get Rating)

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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