Applied Materials, Inc. (NASDAQ:AMAT) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They presently have a $48.70 target price on the manufacturing equipment provider’s stock. Vetr‘s price objective would indicate a potential upside of 10.81% from the stock’s current price.

Several other brokerages have also recently issued reports on AMAT. B. Riley restated a “buy” rating and set a $56.00 price objective on shares of Applied Materials in a research note on Sunday, July 16th. Cowen and Company restated a “buy” rating and set a $50.00 price objective on shares of Applied Materials in a research note on Friday, July 28th. Bank of America Corporation restated a “buy” rating and set a $54.00 price objective (up previously from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $40.00 price objective (up previously from $35.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, UBS AG restated a “buy” rating and set a $51.00 price objective (up previously from $44.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Four investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.62.

Applied Materials (NASDAQ:AMAT) traded up 2.66% during trading on Monday, reaching $43.96. The company had a trading volume of 7,758,354 shares. Applied Materials has a 12 month low of $25.86 and a 12 month high of $47.86. The company has a market capitalization of $47.24 billion, a P/E ratio of 18.18 and a beta of 1.82. The firm’s 50 day moving average is $44.39 and its 200-day moving average is $40.57.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Applied Materials’s revenue for the quarter was up 44.7% compared to the same quarter last year. On average, equities analysts expect that Applied Materials will post $3.11 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC increased its stake in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares during the period. Pinnacle Bank purchased a new stake in Applied Materials during the first quarter worth $113,000. State of Alaska Department of Revenue purchased a new stake in Applied Materials during the first quarter worth $114,000. James Investment Research Inc. increased its stake in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the period. Finally, Bessemer Group Inc. increased its stake in Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after buying an additional 1,817 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Applied Materials Company Profile

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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