JPMorgan Chase & Co. Raises Applied Materials (NASDAQ:AMAT) Price Target to $120.00

Applied Materials (NASDAQ:AMATGet Rating) had its price target raised by JPMorgan Chase & Co. from $115.00 to $120.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the manufacturing equipment provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 14.61% from the stock’s previous close.

Other research analysts have also issued reports about the company. Sanford C. Bernstein upped their price target on Applied Materials to $140.00 in a research report on Monday, August 22nd. New Street Research upgraded Applied Materials from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Friday, October 21st. Cowen boosted their target price on Applied Materials from $100.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group lowered their target price on Applied Materials from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Thursday, October 13th. Finally, Evercore ISI lowered their target price on Applied Materials to $100.00 in a research note on Thursday, October 13th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Applied Materials Stock Up 0.2 %

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

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

Institutional Trading of Applied Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMAT. IFM Investors Pty Ltd grew its holdings in Applied Materials by 16.9% in the 1st quarter. IFM Investors Pty Ltd now owns 141,449 shares of the manufacturing equipment provider’s stock valued at $18,643,000 after buying an additional 20,444 shares during the last quarter. Hardy Reed LLC bought a new stake in shares of Applied Materials in the 1st quarter worth approximately $34,000. Steward Partners Investment Advisory LLC lifted its position in shares of Applied Materials by 9.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 26,131 shares of the manufacturing equipment provider’s stock worth $3,444,000 after acquiring an additional 2,315 shares during the period. Atria Investments LLC lifted its position in shares of Applied Materials by 1.5% in the 1st quarter. Atria Investments LLC now owns 28,242 shares of the manufacturing equipment provider’s stock worth $3,722,000 after acquiring an additional 413 shares during the period. Finally, Clear Creek Financial Management LLC lifted its position in shares of Applied Materials by 4.5% in the 1st quarter. Clear Creek Financial Management LLC now owns 2,253 shares of the manufacturing equipment provider’s stock worth $297,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

Applied Materials Company Profile

(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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