Applied Materials, Inc. (NASDAQ:AMAT) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They currently have a $48.70 price objective on the manufacturing equipment provider’s stock. Vetr‘s price objective suggests a potential upside of 10.81% from the stock’s previous close.

A number of other brokerages also recently commented on AMAT. Stifel Nicolaus upped their price objective on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Sunday, May 21st. Deutsche Bank AG reiterated a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. UBS AG reiterated a “buy” rating and set a $51.00 price target (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Instinet reiterated a “buy” rating and set a $47.00 price target (up previously from $40.00) on shares of Applied Materials in a research report on Sunday, May 21st. Finally, Needham & Company LLC boosted their price target on Applied Materials from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Sunday, May 21st. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $46.62.

Applied Materials (AMAT) traded up 2.66% during midday trading on Monday, reaching $43.96. The company’s stock had a trading volume of 7,758,354 shares. Applied Materials has a 1-year low of $25.86 and a 1-year high of $47.86. The company’s 50-day moving average price is $44.39 and its 200-day moving average price is $40.57. The company has a market capitalization of $47.24 billion, a price-to-earnings ratio of 18.18 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm’s revenue was up 44.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. On average, analysts predict that Applied Materials will post $3.11 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Applied Materials by 3.4% in the first quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock valued at $2,853,797,000 after buying an additional 2,441,471 shares during the last quarter. BlackRock Inc. raised its position in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after buying an additional 63,912,660 shares during the last quarter. FMR LLC raised its position in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares during the last quarter. Egerton Capital UK LLP raised its position in Applied Materials by 18.0% in the second quarter. Egerton Capital UK LLP now owns 13,734,934 shares of the manufacturing equipment provider’s stock valued at $567,390,000 after buying an additional 2,092,326 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Applied Materials by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock valued at $501,248,000 after buying an additional 3,191,737 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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