Applied Materials (NASDAQ:AMAT) has been assigned a $57.00 price target by Stifel Nicolaus in a note issued to investors on Monday, TipRanks reports. The firm presently has a “buy” rating on the manufacturing equipment provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 21.33% from the company’s current price.

A number of other research analysts have also weighed in on the stock. UBS Group raised their price target on shares of Applied Materials from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, June 4th. DA Davidson lowered shares of Applied Materials from a “buy” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $45.00 in a research report on Monday, July 8th. BidaskClub lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Susquehanna Bancshares raised shares of Applied Materials from a “neutral” rating to a “positive” rating and raised their price target for the company from $34.00 to $60.00 in a research report on Wednesday, May 15th. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $51.00.

Shares of AMAT traded down $1.08 during trading hours on Monday, reaching $46.98. 4,351,432 shares of the stock traded hands, compared to its average volume of 10,051,665. The company has a current ratio of 2.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $46.90. Applied Materials has a 52 week low of $28.79 and a 52 week high of $52.42. The stock has a market cap of $44.14 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.68.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Applied Materials had a net margin of 22.10% and a return on equity of 47.88%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period last year, the firm earned $1.22 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis. As a group, sell-side analysts expect that Applied Materials will post 2.96 EPS for the current year.

A number of hedge funds have recently made changes to their positions in AMAT. Dimensional Fund Advisors LP raised its position in Applied Materials by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,539,478 shares of the manufacturing equipment provider’s stock worth $115,882,000 after acquiring an additional 211,654 shares during the period. Geode Capital Management LLC increased its stake in shares of Applied Materials by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 14,055,719 shares of the manufacturing equipment provider’s stock worth $459,453,000 after purchasing an additional 794,347 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Applied Materials by 6.8% in the first quarter. Flagship Harbor Advisors LLC now owns 4,706 shares of the manufacturing equipment provider’s stock worth $186,000 after purchasing an additional 298 shares in the last quarter. Pennsylvania Trust Co increased its stake in shares of Applied Materials by 11.4% in the first quarter. Pennsylvania Trust Co now owns 8,532 shares of the manufacturing equipment provider’s stock worth $455,000 after purchasing an additional 871 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Applied Materials in the first quarter worth about $297,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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