Applied Materials’s “Buy” Rating Reaffirmed at Argus (AMAT)
Applied Materials (NASDAQ:AMAT)‘s stock had its “buy” rating reiterated by research analysts at Argus in a report released on Tuesday. They currently have a $22.10 target price on the stock, down from their previous target price of $25.00.
Shares of Applied Materials (NASDAQ:AMAT) opened at 22.10 on Tuesday. 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 $21.98 and its 200-day moving average is $20.30. The company has a market cap of $26.918 billion and a P/E ratio of 27.28.
Applied Materials (NASDAQ:AMAT) last issued its quarterly 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 $1.06 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks 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. Separately, 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. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $24.32.
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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