Applied Materials, Inc. (NASDAQ:AMAT) had its price target upped by equities researchers at Royal Bank Of Canada from $55.00 to $64.00 in a note issued to investors on Friday. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 10.65% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price objective for the company in a research report on Thursday, August 10th. Stifel Nicolaus restated a “buy” rating and set a $61.00 price objective (up from $55.00) on shares of Applied Materials in a research report on Friday, August 18th. Credit Suisse Group raised their price objective on shares of Applied Materials from $5.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Finally, B. Riley restated a “buy” rating and set a $61.00 price objective on shares of Applied Materials in a research report on Saturday, August 19th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $57.55.

Shares of Applied Materials (AMAT) opened at $57.84 on Friday. Applied Materials has a one year low of $29.85 and a one year high of $58.00. The stock has a market cap of $61,690.00, a PE ratio of 18.72, a P/E/G ratio of 0.88 and a beta of 1.85. The company has a quick ratio of 2.25, a current ratio of 2.91 and a debt-to-equity ratio of 0.61.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. Applied Materials’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. equities analysts predict that Applied Materials will post 3.22 earnings per share for the current fiscal year.

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In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of Applied Materials stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMAT. First Financial Equity Corporation bought a new stake in Applied Materials in the first quarter valued at $420,000. Janus Capital Management LLC increased its stake in Applied Materials by 28.9% in the first quarter. Janus Capital Management LLC now owns 8,534,514 shares of the manufacturing equipment provider’s stock valued at $331,993,000 after purchasing an additional 1,912,105 shares in the last quarter. Bragg Financial Advisors Inc increased its stake in Applied Materials by 4.9% in the first quarter. Bragg Financial Advisors Inc now owns 136,624 shares of the manufacturing equipment provider’s stock valued at $5,315,000 after purchasing an additional 6,438 shares in the last quarter. Hutchens Investment Management Inc bought a new stake in Applied Materials in the first quarter valued at $1,291,000. Finally, Brighton Jones LLC bought a new stake in Applied Materials in the first quarter valued at $219,000. 79.35% of the stock is owned by hedge funds and other institutional investors.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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