Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a research report issued to clients and investors on Wednesday. They currently have a $61.00 price target on the manufacturing equipment provider’s stock. B. Riley’s price objective indicates a potential upside of 27.70% from the stock’s previous close. B. Riley also issued estimates for Applied Materials’ Q4 2017 earnings at $0.90 EPS, FY2017 earnings at $3.22 EPS, Q1 2018 earnings at $0.91 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $0.94 EPS, FY2018 earnings at $3.76 EPS, Q1 2019 earnings at $0.87 EPS, Q2 2019 earnings at $0.99 EPS, Q3 2019 earnings at $1.09 EPS and FY2019 earnings at $4.05 EPS.

Other equities research analysts have also issued research reports about the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $65.00 price target (up previously from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. UBS AG reaffirmed a “buy” rating and issued a $52.00 price target on shares of Applied Materials in a research report on Tuesday, June 13th. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $45.72 price objective on the stock in a report on Thursday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a report on Thursday, July 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price objective (up previously from $47.00) on shares of Applied Materials in a report on Monday, July 10th. Two analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $52.69.

Shares of Applied Materials (NASDAQ AMAT) traded up 1.31% during trading on Wednesday, hitting $47.77. The stock had a trading volume of 5,867,667 shares. The company’s 50 day moving average price is $44.50 and its 200 day moving average price is $42.82. Applied Materials has a 12 month low of $27.56 and a 12 month high of $48.53. The stock has a market cap of $50.95 billion, a price-to-earnings ratio of 16.98 and a beta of 1.81. Applied Materials also was the recipient of unusually large options trading on Wednesday. Traders purchased 2,307 call options on the stock. This is an increase of approximately 118% compared to the average volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the company earned $0.50 EPS. Applied Materials’s revenue was up 32.7% on a year-over-year basis. Equities research analysts expect that Applied Materials will post $3.20 earnings per share for the current fiscal year.

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In related news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AMAT. Beacon Capital Management purchased a new position in Applied Materials during the fourth quarter worth $0. Thompson Davis & CO. Inc. grew its position in shares of Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock valued at $101,000 after purchasing an additional 2,418 shares during the period. First Quadrant L P CA purchased a new stake in shares of Applied Materials in the third quarter valued at $103,000. TLP Group LLC purchased a new stake in shares of Applied Materials in the second quarter valued at $105,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Applied Materials in the fourth quarter valued at $105,000. 79.47% of the stock is owned by institutional investors.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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