Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “neutral” rating reiterated by stock analysts at Goldman Sachs Group, Inc. (The) in a report issued on Sunday. They currently have a $49.00 target price on the manufacturing equipment provider’s stock. Goldman Sachs Group, Inc. (The)’s price target would suggest a potential upside of 10.24% from the stock’s current price.

AMAT has been the topic of a number of other reports. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 target price on the stock in a research note on Monday, July 24th. B. Riley reiterated a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research note on Sunday, July 16th. Cowen and Company reiterated a “buy” rating and issued a $50.00 target price on shares of Applied Materials in a research note on Friday, July 28th. Bank of America Corporation reiterated a “buy” rating and issued a $54.00 target price (up from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, UBS AG reiterated a “buy” rating and issued a $51.00 target price (up 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, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $51.44.

Shares of Applied Materials (NASDAQ:AMAT) traded down 0.85% during mid-day trading on Friday, hitting $44.07. The stock had a trading volume of 3,244,928 shares. Applied Materials has a 12-month low of $27.56 and a 12-month high of $47.86. The stock has a market cap of $47.20 billion, a P/E ratio of 15.67 and a beta of 1.82. The company’s 50 day moving average price is $44.49 and its 200 day moving average price is $41.46.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. Applied Materials’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. Equities research analysts predict that Applied Materials will post $3.20 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/08/20/goldman-sachs-group-inc-the-reaffirms-neutral-rating-for-applied-materials-inc-amat.html.

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased its position in shares of Applied Materials by 25.5% in the second quarter. Toronto Dominion Bank now owns 396,461 shares of the manufacturing equipment provider’s stock valued at $16,378,000 after buying an additional 80,545 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Applied Materials by 10.0% in the second quarter. Advisory Services Network LLC now owns 50,505 shares of the manufacturing equipment provider’s stock valued at $2,086,000 after buying an additional 4,599 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of Applied Materials by 13.1% in the second quarter. WINTON GROUP Ltd now owns 520,242 shares of the manufacturing equipment provider’s stock valued at $21,491,000 after buying an additional 60,201 shares in the last quarter. Strategic Wealth Advisors Group LLC purchased a new position in shares of Applied Materials during the second quarter valued at about $2,032,000. Finally, Covington Capital Management increased its position in shares of Applied Materials by 11.2% in the second quarter. Covington Capital Management now owns 14,911 shares of the manufacturing equipment provider’s stock valued at $616,000 after buying an additional 1,500 shares in the last quarter. 79.33% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.