Applied Materials (NASDAQ:AMAT) PT Raised to $250.00

Applied Materials (NASDAQ:AMAT) had its price objective boosted by research analysts at TD Cowen from $245.00 to $250.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the manufacturing equipment provider’s stock. TD Cowen’s target price would suggest a potential upside of 17.88% from the stock’s current price.

AMAT has been the subject of several other research reports. B. Riley lifted their target price on Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Cantor Fitzgerald upgraded Applied Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $220.00 to $260.00 in a research report on Monday, April 8th. Raymond James boosted their price objective on Applied Materials from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Citigroup boosted their price objective on Applied Materials from $170.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Morgan Stanley boosted their price objective on Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and an average price target of $215.64.

Applied Materials Price Performance

Shares of AMAT opened at $212.08 on Friday. The firm has a market cap of $176.22 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.19 and a beta of 1.58. The stock has a 50 day moving average of $204.63 and a 200-day moving average of $179.13. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. Applied Materials has a 52 week low of $120.18 and a 52 week high of $219.36.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a return on equity of 42.43% and a net margin of 27.57%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 EPS. As a group, analysts forecast that Applied Materials will post 8.07 EPS for the current year.

Institutional Trading of Applied Materials

Hedge funds and other institutional investors have recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials in the 1st quarter worth $26,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Applied Materials in the 4th quarter worth $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Applied Materials in the 1st quarter worth $35,000. RFP Financial Group LLC raised its position in shares of Applied Materials by 96.6% during the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after purchasing an additional 85 shares during the period. Finally, DSM Capital Partners LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth $37,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.