Applied Materials Given Consensus Rating of “Buy” by Analysts (NASDAQ:AMAT)
Applied Materials (NASDAQ:AMAT) has been given an average rating of “Buy” by the twenty-five analysts that are covering the company, AmericanBankingNews.com reports. Six research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.35.
Applied Materials (NASDAQ:AMAT) opened at 20.83 on Wednesday. Applied Materials has a 52-week low of $14.85 and a 52-week high of $23.46. The stock’s 50-day moving average is $22.19 and its 200-day moving average is $20.09. The company has a market cap of $25.358 billion and a P/E ratio of 29.39.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Analysts expect that Applied Materials will post $1.06 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Applied Materials in a research note on Wednesday, July 30th. They now have a $22.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Applied Materials from $25.00 to $28.00 in a research note on Tuesday, July 15th. They now have a “buy” rating on the stock. Finally, analysts at B. Riley upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 15th. They now have a $25.00 price target on the stock, up previously from $23.06.
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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