Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “neutral” rating restated by equities researchers at Susquehanna Bancshares Inc in a report issued on Monday. They currently have a $42.00 price target on the manufacturing equipment provider’s stock. Susquehanna Bancshares Inc’s price target points to a potential downside of 5.19% from the company’s previous close.

Several other research firms have also recently weighed in on AMAT. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price objective for the company in a research report on Monday, July 24th. B. Riley reiterated a “buy” rating and set a $56.00 price objective on shares of Applied Materials in a research report on Sunday, July 16th. Cowen and Company reiterated a “buy” rating and set a $50.00 price objective on shares of Applied Materials in a research report on Friday, July 28th. Bank of America Corporation reiterated a “buy” rating and set a $54.00 price objective (up from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, UBS AG reiterated a “buy” rating and set a $51.00 price objective (up from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and an average price target of $44.59.

Shares of Applied Materials (AMAT) traded down 1.96% during mid-day trading on Monday, hitting $43.43. 4,992,096 shares of the company were exchanged. The firm has a market capitalization of $46.51 billion, a P/E ratio of 15.44 and a beta of 1.82. The company’s 50-day moving average price is $44.44 and its 200-day moving average price is $41.31. Applied Materials has a 12-month low of $27.56 and a 12-month high of $47.86.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the company posted $0.50 earnings per share. Applied Materials’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities research analysts predict that Applied Materials will post $3.12 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in Applied Materials during the first quarter worth $114,000. Wunderlich Capital Managemnt raised its position 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 worth $125,000 after buying an additional 87 shares during the last quarter. James Investment Research Inc. raised its position 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 last quarter. Bessemer Group Inc. raised its position 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 last quarter. Finally, Clean Yield Group purchased a new position in Applied Materials during the first quarter worth $124,000. 79.33% of the stock is currently owned by institutional investors.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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