Applied Materials (NASDAQ:AMAT) had its price target upped by equities research analysts at Deutsche Bank from $47.00 to $52.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the manufacturing equipment provider’s stock. Deutsche Bank’s price target would suggest a potential upside of 1.94% from the stock’s current price.
Several other analysts have also recently issued reports on AMAT. Nomura set a $40.00 target price on shares of Applied Materials and gave the stock a “hold” rating in a research note on Friday, August 16th. DA Davidson cut shares of Applied Materials from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $45.00 in a research note on Monday, July 8th. ValuEngine cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Cowen reiterated an “outperform” rating and issued a $55.00 target price (up from $53.00) on shares of Applied Materials in a research note on Friday, August 16th. Finally, KeyCorp lowered their target price on shares of Applied Materials from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $52.10.
NASDAQ AMAT traded up $0.17 on Thursday, hitting $51.01. The stock had a trading volume of 5,356,458 shares, compared to its average volume of 9,479,845. Applied Materials has a 52-week low of $28.79 and a 52-week high of $52.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The company has a market capitalization of $46.79 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 3.38 and a beta of 1.65. The firm has a 50-day moving average of $49.47 and a 200-day moving average of $45.12.
In related news, Director Stephen R. Forrest sold 3,000 shares of Applied Materials stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total value of $138,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total transaction of $1,340,891.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,945 shares of company stock worth $2,776,105. Corporate insiders own 0.44% of the company’s stock.
Large investors have recently modified their holdings of the stock. Wiley BROS. Aintree Capital LLC bought a new stake in Applied Materials in the 3rd quarter worth $228,000. Artemis Investment Management LLP grew its holdings in Applied Materials by 153.2% in the 3rd quarter. Artemis Investment Management LLP now owns 192,782 shares of the manufacturing equipment provider’s stock worth $9,611,000 after acquiring an additional 116,646 shares during the last quarter. ELM Advisors LLC bought a new stake in Applied Materials in the 3rd quarter worth $202,000. Pennsylvania Trust Co grew its holdings in Applied Materials by 4.0% in the 3rd quarter. Pennsylvania Trust Co now owns 7,187 shares of the manufacturing equipment provider’s stock worth $359,000 after acquiring an additional 276 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its holdings in Applied Materials by 20.4% in the 3rd quarter. Carroll Financial Associates Inc. now owns 24,320 shares of the manufacturing equipment provider’s stock worth $1,213,000 after acquiring an additional 4,116 shares during the last quarter. Institutional investors own 78.70% of the company’s stock.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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