Applied Materials’s “Neutral” Rating Reaffirmed at Zacks (AMAT)
Applied Materials (NASDAQ:AMAT)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Friday. They currently have a $22.00 price objective on the stock. Zacks‘s price target points to a potential upside of 4.02% from the company’s current price.
Zacks’ analyst wrote, “Applied Materials is one of the world’s largest suppliers of fabrication equipment to semiconductor, LCD and solar PV cell manufacturers. Applied’s third quarter earnings were above the Zacks Consensus Estimate by a penny. However, the guidance was in line with expectations. The proliferation of mobile devices, strength in mobility platforms, TV capacity builds, better utilization of resources and the recently-announced merger with Tokyo Electron are positives. Of course, the high cost structure and customer concentration are things to be cautious about. We therefore have a Neutral recommendation on Applied Materials shares.”
A number of other firms have also recently commented on AMAT. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Applied Materials in a research note on Friday. They now have a $22.00 price target on the stock, up previously from $21.00. 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. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $24.40.
Shares of Applied Materials (NASDAQ:AMAT) traded up 4.78% on Friday, hitting $22.16. The stock had a trading volume of 16,056,226 shares. 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 $21.99 and its 200-day moving average is $20.19. The company has a market cap of $26.978 billion and a price-to-earnings ratio of 30.04. Applied Materials also saw unusually large options trading activity on Wednesday. Investors acquired 65,197 call options on the stock. This is an increase of 579% compared to the average daily volume of 9,608 call options.
Applied Materials (NASDAQ:AMAT) last released its earnings data on Thursday, August 14th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.01. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.29 billion. Analysts expect that Applied Materials will post $1.05 EPS for the current fiscal year.
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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