Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by equities researchers at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $52.00 price objective on the manufacturing equipment provider’s stock, up from their prior price objective of $49.00. Goldman Sachs Group, Inc. (The)’s price target would indicate a potential upside of 10.50% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Instinet reissued 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. Stifel Nicolaus boosted their price target on shares of Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. Needham & Company LLC boosted their price target on shares of Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. B. Riley reissued a “buy” rating and set a $56.00 price target on shares of Applied Materials in a research report on Saturday, May 20th. Finally, Credit Suisse Group raised shares of Applied Materials to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, May 19th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and an average target price of $51.55.

Applied Materials (AMAT) opened at 47.06 on Wednesday. The firm’s 50-day moving average is $44.27 and its 200 day moving average is $42.49. Applied Materials has a 52-week low of $27.56 and a 52-week high of $47.86. The company has a market cap of $50.19 billion, a price-to-earnings ratio of 16.73 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, equities research analysts predict that Applied Materials will post $3.20 EPS for the current fiscal year.

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In other news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Applied Materials during the first quarter worth approximately $114,000. Clean Yield Group purchased a new stake in shares of Applied Materials during the first quarter worth approximately $124,000. Wunderlich Capital Managemnt increased its stake in shares of Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares during the period. Bessemer Group Inc. increased its stake in shares of Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after buying an additional 1,817 shares during the period. Finally, Hanson McClain Inc. increased its stake in shares of Applied Materials by 4.3% during the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after buying an additional 139 shares during the period. 79.67% of the stock is currently owned by institutional investors and hedge funds.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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