Needham & Company LLC Boosts Applied Materials (NASDAQ:AMAT) Price Target to $120.00

Applied Materials (NASDAQ:AMATGet Rating) had its target price increased by stock analysts at Needham & Company LLC from $90.00 to $120.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has a “buy” rating on the manufacturing equipment provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 14.61% from the stock’s current price.

AMAT has been the subject of several other reports. Cowen lifted their target price on shares of Applied Materials from $100.00 to $135.00 and gave the company an “outperform” rating in a report on Friday. TheStreet lowered shares of Applied Materials from a “b-” rating to a “c+” rating in a report on Tuesday, October 11th. Susquehanna lifted their target price on shares of Applied Materials from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley cut their target price on shares of Applied Materials from $109.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, October 13th. Finally, Sanford C. Bernstein lifted their target price on shares of Applied Materials to $140.00 in a report on Monday, August 22nd. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Applied Materials Stock Performance

AMAT opened at $104.70 on Friday. Applied Materials has a 12-month low of $71.12 and a 12-month 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 firm 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. The firm has a 50 day moving average of $88.65 and a two-hundred day moving average of $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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.30. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.44 billion. Applied Materials had a net margin of 25.31% and a return on equity of 57.03%. Applied Materials’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $1.94 EPS. On average, analysts anticipate that Applied Materials will post 6.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Applied Materials during the 1st quarter valued at about $25,000. Center for Financial Planning Inc. purchased a new stake in Applied Materials in the 1st quarter valued at about $25,000. Hardy Reed LLC purchased a new stake in Applied Materials in the 1st quarter valued at about $34,000. Disciplined Investments LLC raised its holdings in Applied Materials by 53.2% in the 3rd quarter. Disciplined Investments LLC now owns 337 shares of the manufacturing equipment provider’s stock valued at $28,000 after buying an additional 117 shares during the period. Finally, JFS Wealth Advisors LLC raised its holdings in Applied Materials by 113.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 341 shares of the manufacturing equipment provider’s stock valued at $31,000 after buying an additional 181 shares during the period. 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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