Applied Materials, Inc. (AMAT) Price Target Raised to $64.00 at Royal Bank Of Canada
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.
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
Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.