Applied Materials, Inc. (AMAT) Upgraded at Vetr Inc.
Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $49.11 price target on the manufacturing equipment provider’s stock. Vetr‘s price target indicates a potential upside of 2.81% from the stock’s previous close.
AMAT has been the subject of several other reports. Craig Hallum increased their target price on Applied Materials to $60.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Credit Suisse Group reiterated a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $48.00 target price (up from $46.00) on shares of Applied Materials in a research note on Sunday, August 20th. DA Davidson reiterated a “buy” rating and set a $55.00 target price on shares of Applied Materials in a research note on Monday, July 10th. Finally, UBS AG reiterated a “buy” rating and set a $52.00 target price on shares of Applied Materials in a research note on Tuesday, June 13th. Two analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.69.
Shares of Applied Materials (NASDAQ:AMAT) traded up 1.31% during mid-day trading on Friday, hitting $47.77. 5,867,667 shares of the stock traded hands. The stock has a market cap of $50.95 billion, a PE ratio of 16.98 and a beta of 1.81. Applied Materials has a one year low of $27.56 and a one year high of $48.53. The stock has a 50-day moving average of $44.50 and a 200 day moving average of $42.82. Applied Materials also saw some unusual options trading activity on Wednesday. Stock investors purchased 2,307 call options on the stock. This is an increase of approximately 118% compared to the typical volume of 1,060 call options.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (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 company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the company earned $0.50 earnings per share. Applied Materials’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities analysts predict that Applied Materials will post $3.20 EPS for the current fiscal year.
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In other news, Director Alexander Karsner sold 22,762 shares of the firm’s 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 document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. MPS Loria Financial Planners LLC acquired a new position in shares of Applied Materials during the second quarter valued at $109,000. W. E. Donoghue & Co. LLC acquired a new position in shares of Applied Materials during the second quarter valued at $2,147,000. Toronto Dominion Bank increased its holdings in shares of Applied Materials by 25.5% during the second quarter. Toronto Dominion Bank now owns 396,461 shares of the manufacturing equipment provider’s stock valued at $16,378,000 after purchasing an additional 80,545 shares during the period. Advisory Services Network LLC increased its holdings in shares of Applied Materials by 10.0% during 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 purchasing an additional 4,599 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in shares of Applied Materials by 13.1% during the second quarter. WINTON GROUP Ltd now owns 520,242 shares of the manufacturing equipment provider’s stock valued at $21,491,000 after purchasing an additional 60,201 shares during the period. 79.47% of the stock is currently owned by institutional investors.
About Applied Materials
To view Vetr’s full report, visit Vetr’s official website.
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