Susquehanna Bancshares Increases Applied Materials (NASDAQ:AMAT) Price Target to $92.00

Applied Materials (NASDAQ:AMATGet Rating) had its price target lifted by equities researchers at Susquehanna Bancshares from $80.00 to $92.00 in a note issued to investors on Friday, Stock Target Advisor reports. Susquehanna Bancshares’ price objective indicates a potential downside of 12.13% from the stock’s current price.

Other analysts also recently issued research reports about the company. Sanford C. Bernstein lifted their price target on Applied Materials to $140.00 in a research note on Monday, August 22nd. Cowen lifted their price target on Applied Materials from $100.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday. DA Davidson dropped their price target on Applied Materials from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, August 19th. Barclays lifted their price target on Applied Materials from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Summit Insights raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $104.70 on Friday. The company has a market capitalization of $90.07 billion, a PE ratio of 14.07, a PEG ratio of 3.16 and a beta of 1.49. 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 stock’s fifty day simple moving average is $88.65 and its 200 day simple moving average is $97.45.

Applied Materials (NASDAQ:AMATGet Rating) last released its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $2.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the business posted $1.94 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts predict that Applied Materials will post 6.68 EPS for the current year.

Institutional Investors Weigh In On Applied Materials

Institutional investors have recently made changes to their positions in the company. Walleye Capital LLC boosted its holdings in shares of Applied Materials by 184.4% during the second quarter. Walleye Capital LLC now owns 16,830 shares of the manufacturing equipment provider’s stock worth $1,531,000 after acquiring an additional 10,913 shares during the period. Trust Co. of Virginia VA boosted its holdings in shares of Applied Materials by 2.3% during the second quarter. Trust Co. of Virginia VA now owns 6,578 shares of the manufacturing equipment provider’s stock worth $599,000 after acquiring an additional 149 shares during the period. Morningstar Investment Services LLC boosted its holdings in shares of Applied Materials by 25.4% during the first quarter. Morningstar Investment Services LLC now owns 2,314 shares of the manufacturing equipment provider’s stock worth $321,000 after acquiring an additional 468 shares during the period. Waldron Private Wealth LLC raised its position in shares of Applied Materials by 154.5% in the first quarter. Waldron Private Wealth LLC now owns 5,406 shares of the manufacturing equipment provider’s stock valued at $712,000 after buying an additional 3,282 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of Applied Materials by 16.7% in the first quarter. Synovus Financial Corp now owns 74,799 shares of the manufacturing equipment provider’s stock valued at $9,856,000 after buying an additional 10,714 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.

About Applied Materials

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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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