Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Monday. They currently have a $54.00 target price on the manufacturing equipment provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 13.04% from the company’s current price.

A number of other equities research analysts have also commented on AMAT. Bank of America Corporation reaffirmed a “buy” rating and issued a $65.00 price objective (up from $58.00) on shares of Applied Materials in a research note on Sunday, June 11th. UBS AG reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Applied Materials in a research note on Tuesday, June 13th. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $45.72 price objective on the stock in a research note on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research note on Thursday, July 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $52.00 price objective (up from $47.00) on shares of Applied Materials in a research note on Monday, July 10th. Two investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $52.69.

Shares of Applied Materials (NASDAQ:AMAT) traded down 3.01% during trading on Monday, hitting $46.33. 10,210,914 shares of the stock were exchanged. The firm’s 50 day moving average price is $44.50 and its 200-day moving average price is $42.82. Applied Materials has a 52 week low of $27.56 and a 52 week high of $48.53. The stock has a market cap of $49.41 billion, a P/E ratio of 16.47 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 32.7% on a year-over-year basis. On average, analysts predict that Applied Materials will post $3.20 EPS for the current 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 value of $1,002,210.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Several hedge funds have recently made changes to their positions in AMAT. MPS Loria Financial Planners LLC purchased a new stake in shares of Applied Materials in the second quarter valued at about $109,000. Wunderlich Capital Managemnt raised its holdings in shares of Applied Materials by 2.9% in the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after purchasing an additional 87 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after purchasing an additional 1,817 shares during the last quarter. Hanson McClain Inc. raised its holdings in shares of Applied Materials by 4.3% in the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after purchasing an additional 139 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Applied Materials in the second quarter valued at about $134,000. Institutional investors own 79.47% of the company’s stock.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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