Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “overweight” rating reaffirmed by Morgan Stanley in a research report issued to clients and investors on Thursday.

AMAT has been the subject of a number of other research reports. 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. B. Riley reissued a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research report on Tuesday, July 11th. Vetr raised shares of 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. Instinet reissued a “buy” rating and issued a $50.00 target price (up previously from $47.00) on shares of Applied Materials in a research report on Monday, August 21st. Finally, BidaskClub cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $51.57.

Applied Materials (AMAT) traded up 2.04% during trading on Thursday, hitting $47.06. 11,116,068 shares of the stock were exchanged. Applied Materials has a 52 week low of $27.56 and a 52 week high of $47.86. The stock has a market capitalization of $50.19 billion, a price-to-earnings ratio of 16.73 and a beta of 1.81. The firm has a 50-day moving average of $44.29 and a 200-day moving average of $42.44.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating 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 firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 32.7% on a year-over-year basis. Equities research analysts anticipate that Applied Materials will post $3.20 earnings per share for the current fiscal year.

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In other news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC increased its stake in shares of Applied Materials by 0.3% in the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 10 shares during the period. Summit Financial Wealth Advisors LLC increased its stake in shares of Applied Materials by 0.3% in the second quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after buying an additional 19 shares during the period. Guardian Life Insurance Co. of America increased its stake in shares of Applied Materials by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock valued at $162,000 after buying an additional 29 shares during the period. Adirondack Trust Co. increased its stake in shares of Applied Materials by 1.1% in the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock valued at $151,000 after buying an additional 40 shares during the period. Finally, Affinity Wealth Management increased its stake in shares of Applied Materials by 0.8% in the second quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock valued at $264,000 after buying an additional 48 shares during the period. 79.67% of the stock is owned by institutional investors.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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