Applied Materials’ (AMAT) “Overweight” Rating Reiterated at KeyCorp
Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “overweight” rating reiterated by equities research analysts at KeyCorp in a report issued on Friday. They currently have a $57.00 price objective on the manufacturing equipment provider’s stock, up from their previous price objective of $55.00. KeyCorp’s price target indicates a potential upside of 28.23% from the company’s current price. KeyCorp also issued estimates for Applied Materials’ Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $3.23 EPS, Q1 2018 earnings at $0.91 EPS, Q2 2018 earnings at $0.88 EPS, Q3 2018 earnings at $0.94 EPS and Q4 2018 earnings at $0.93 EPS.
Other equities analysts have also issued research reports about the company. B. Riley reissued a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research report on Saturday, May 20th. UBS AG reissued a “buy” rating and issued a $51.00 target price (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price for the company in a research report on Thursday, August 10th. Zacks Investment Research lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Credit Suisse Group boosted their target price on Applied Materials from $5.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $51.44.
Shares of Applied Materials (NASDAQ:AMAT) traded down 0.92% on Friday, hitting $44.04. 3,255,521 shares of the stock were exchanged. The stock has a market cap of $47.17 billion, a price-to-earnings ratio of 15.66 and a beta of 1.82. The stock’s 50-day moving average is $44.49 and its 200-day moving average is $41.46. Applied Materials has a 1-year low of $27.56 and a 1-year high of $47.86.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. Applied Materials’s revenue was up 32.7% on a year-over-year basis. Analysts forecast that Applied Materials will post $3.20 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in Applied Materials during the first quarter valued at $114,000. Wunderlich Capital Managemnt raised its stake in Applied Materials by 2.9% in the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after buying an additional 87 shares during the last quarter. James Investment Research Inc. raised 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 valued at $119,000 after buying an additional 1,450 shares during the last quarter. Bessemer Group Inc. raised 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 valued at $126,000 after buying an additional 1,817 shares during the last quarter. Finally, Clean Yield Group bought a new stake in Applied Materials during the first quarter valued at $124,000. Institutional investors own 79.33% of the company’s stock.
Applied Materials Company Profile
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