Applied Materials (NASDAQ:AMAT) Price Target Raised to $135.00 at Cowen

Applied Materials (NASDAQ:AMATGet Rating) had its price objective increased by equities research analysts at Cowen from $100.00 to $135.00 in a report released on Friday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the manufacturing equipment provider’s stock. Cowen’s target price indicates a potential upside of 28.94% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Craig Hallum lowered their price target on Applied Materials from $126.00 to $95.00 in a report on Thursday, October 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Applied Materials from $95.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Susquehanna boosted their price target on Applied Materials from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group lowered their price target on Applied Materials from $109.00 to $93.00 and set a “buy” rating for the company in a report on Thursday, October 13th. Finally, Barclays boosted their price objective on Applied Materials from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Applied Materials Price Performance

AMAT stock opened at $104.70 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.26 and a debt-to-equity ratio of 0.45. Applied Materials has a 52-week low of $71.12 and a 52-week high of $167.06. The stock’s 50 day moving average is $88.65 and its two-hundred day moving average is $97.45. The company has a market capitalization of $90.07 billion, a PE ratio of 14.07, a P/E/G ratio of 3.16 and a beta of 1.49.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Applied Materials by 0.5% in the 1st quarter. State Street Corp now owns 40,177,420 shares of the manufacturing equipment provider’s stock worth $5,295,384,000 after buying an additional 192,537 shares in the last quarter. Capital World Investors raised its stake in shares of Applied Materials by 21.5% in the 1st quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock worth $4,461,584,000 after buying an additional 5,980,777 shares in the last quarter. Capital International Investors raised its stake in shares of Applied Materials by 6.9% in the 1st quarter. Capital International Investors now owns 24,875,796 shares of the manufacturing equipment provider’s stock worth $3,278,728,000 after buying an additional 1,607,427 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Applied Materials by 1.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,122,174 shares of the manufacturing equipment provider’s stock worth $829,935,000 after buying an additional 154,413 shares in the last quarter. Finally, Parnassus Investments LLC raised its stake in shares of Applied Materials by 1.1% in the 1st quarter. Parnassus Investments LLC now owns 7,066,179 shares of the manufacturing equipment provider’s stock worth $931,322,000 after buying an additional 76,909 shares in the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

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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