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Applied Materials (NASDAQ:AMAT)‘s stock had its “outperform” rating reaffirmed by investment analysts at Cowen and Company in a note issued to investors on Tuesday, Analyst Ratings News reports.

Applied Materials (NASDAQ:AMAT) traded up 3.71% during mid-day trading on Tuesday, hitting $17.89. The stock had a trading volume of 18,633,364 shares. Applied Materials has a 1-year low of $12.65 and a 1-year high of $18.18. The stock has a 50-day moving average of $17.29 and a 200-day moving average of $16.89. The company has a market cap of $21.543 billion and a P/E ratio of 82.14.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.01. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company posted $0.06 earnings per share. Applied Materials’s revenue was up 20.6% compared to the same quarter last year. On average, analysts predict that Applied Materials will post $1.08 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on AMAT. Analysts at RBC Capital downgraded shares of Applied Materials from an “outperform” rating to a “sector perform” rating in a research note on Monday, February 3rd. They now have a $18.00 price target on the stock, down previously from $20.00. They noted that the move was a valuation call. Separately, analysts at TheStreet downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Applied Materials in a research note on Tuesday, November 19th. They now have a $18.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $18.02.

Applied Materials, Inc (NASDAQ:AMAT) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.

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