Applied Materials (AMAT) Stock Rating Reaffirmed by Royal Bank of Canada

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Applied Materials (NASDAQ:AMAT)‘s stock had its “hold” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued on Friday. They currently have a $50.00 price target on the manufacturing equipment provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 14.23% from the company’s previous close.

Several other equities analysts have also recently issued reports on AMAT. ValuEngine cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. BidaskClub cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Citigroup boosted their target price on shares of Applied Materials from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, May 14th. Cowen started coverage on shares of Applied Materials in a research note on Monday, May 14th. They issued a “market perform” rating and a $60.00 target price for the company. Finally, Goldman Sachs Group cut shares of Applied Materials from a “buy” rating to a “neutral” rating in a research note on Friday, May 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.64.

Shares of AMAT traded down $3.66 during trading hours on Friday, hitting $43.77. The stock had a trading volume of 52,575,384 shares, compared to its average volume of 13,810,888. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.60 and a quick ratio of 1.83. Applied Materials has a fifty-two week low of $42.62 and a fifty-two week high of $62.40. The stock has a market cap of $48.52 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.80 and a beta of 1.63.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Applied Materials had a net margin of 19.24% and a return on equity of 51.65%. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. equities analysts expect that Applied Materials will post 4.58 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Wetherby Asset Management Inc. raised its position in Applied Materials by 5.2% during the first quarter. Wetherby Asset Management Inc. now owns 19,210 shares of the manufacturing equipment provider’s stock worth $1,068,000 after acquiring an additional 955 shares during the period. IHT Wealth Management LLC raised its position in shares of Applied Materials by 18.7% in the first quarter. IHT Wealth Management LLC now owns 6,121 shares of the manufacturing equipment provider’s stock valued at $324,000 after buying an additional 965 shares during the last quarter. Blue Pool Management Ltd. raised its position in shares of Applied Materials by 0.4% in the first quarter. Blue Pool Management Ltd. now owns 265,500 shares of the manufacturing equipment provider’s stock valued at $14,764,000 after buying an additional 1,000 shares during the last quarter. 180 Wealth Advisors LLC raised its position in shares of Applied Materials by 8.5% in the second quarter. 180 Wealth Advisors LLC now owns 12,761 shares of the manufacturing equipment provider’s stock valued at $589,000 after buying an additional 1,001 shares during the last quarter. Finally, Cadence Capital Management LLC raised its position in shares of Applied Materials by 17.9% in the second quarter. Cadence Capital Management LLC now owns 6,702 shares of the manufacturing equipment provider’s stock valued at $310,000 after buying an additional 1,018 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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