Applied Materials (NASDAQ:AMAT – Get Assessment) was given a target price of $160.00 by Cowen in a Monday report, Stock Target Advisor reports. Cowen’s price target would point to a potential upside of 78.11% from the stock’s previous close.
AMAT has been the subject of several other reports. StockNews.com downgraded Applied Materials shares from a “buy” rating to a “hold” rating in a Monday, May 23 report. Morgan Stanley lowered its price target on Applied Materials shares from $160.00 to $133.00 and set an “equal weight” rating on the stock in a Friday May 20 report. Piper Sandler lowered its price target on Applied Materials shares from $153.00 to $132.00 and set a “neutral” rating on the stock in a Friday, May 20 report. Craig Hallum lowered his price target on Applied Materials shares from $170.00 to $145.00 and set a “buy” rating on the stock in a Friday May 20 report. Finally, Wells Fargo & Company lowered its price target on Applied Materials shares from $180.00 to $135.00 and set an “overweight” rating on the stock in a Monday, April 18 report. Nine research analysts gave the stock a hold rating and seventeen gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $154.81.
Shares of NASDAQ:AMAT traded at $0.24 during midday trading on Monday, hitting $89.83. The company had a trading volume of 658,798 shares, compared to its average volume of 8,474,437. The company’s 50-day moving average price is $110.76 and its 200-day moving average price is $130.13. The company has a current ratio of 2.29, a quick ratio of 1.54 and a debt ratio of 0.47. The stock has a market capitalization of $78.15 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.34 and a beta of 1.43. Applied Materials has a 52-week low of $87.62 and a 52-week high of $167.06.
Applied Materials (NASDAQ:AMAT – Get Rating) last released its quarterly results on Thursday, May 19. The manufacturing equipment provider reported earnings per share of $1.85 for the quarter, missing analyst consensus estimates of $1.90 per ($0.05). The company posted revenue of $6.25 billion in the quarter, versus $6.35 billion expected by analysts. Applied Materials had a return on equity of 57.17% and a net margin of 27.20%. Applied Materials quarterly revenue increased 11.9% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $1.63. Research analysts expect Applied Materials to post EPS of 7.54 for the current fiscal year.
Applied Materials announced that its board of directors launched a stock repurchase program on Friday, March 11 that sees the company repurchase $6.00 billion worth of stock. This repurchase authorization allows the manufacturing equipment supplier to purchase up to 5.5% of its shares through open market purchases. Share repurchase programs usually indicate that the company’s board of directors believe its shares are undervalued.
Major investors have recently increased or reduced their stake in the company. Monolith Advisors purchased a new equity stake in Applied Materials during the fourth quarter, valued at approximately $25,000. Oliver Lagore Vanvalin Investment Group purchased a new equity stake in Applied Materials during the first quarter worth approximately $25,000. Center for Financial Planning Inc. purchased a new stake in Applied Materials stock during the first quarter, valued at approximately $25,000. Hanson & Doremus Investment Management increased its stake in Applied Materials shares by 1,538.5% during the fourth quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment supplier worth $34,000 after buying an additional 200 shares during the period. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Applied Materials in the fourth quarter worth $35,000. 77.90% of the shares are held by hedge funds and other institutional investors.
About Applied Materials (Get an assessment)
Applied Materials, Inc provides manufacturing equipment, services and software to the semiconductor, display and related industries. It operates through three segments: Semiconductor Systems, Global Applied Services and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures and sells various manufacturing equipment used to manufacture semiconductor chips or integrated circuits.
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