Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a report issued on Thursday. They presently have a $58.00 price target on the manufacturing equipment provider’s stock. Deutsche Bank AG’s target price points to a potential upside of 8.96% from the stock’s previous close.

A number of other analysts have also issued reports on AMAT. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $45.72 price target for the company in a research note on Thursday, June 22nd. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price target on shares of Applied Materials in a research note on Thursday, July 6th. Morgan Stanley restated an “overweight” rating and issued a $52.00 price target (up previously from $47.00) on shares of Applied Materials in a research note on Monday, July 10th. DA Davidson restated a “buy” rating and issued a $55.00 price target on shares of Applied Materials in a research note on Monday, July 10th. Finally, B. Riley restated a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.64.

Shares of Applied Materials (NASDAQ AMAT) traded up 1.268% during midday trading on Thursday, hitting $53.905. 8,944,547 shares of the company’s stock were exchanged. Applied Materials has a 1-year low of $27.56 and a 1-year high of $54.13. The stock’s 50 day moving average is $47.57 and its 200-day moving average is $44.16. The stock has a market cap of $57.49 billion, a PE ratio of 19.163 and a beta of 1.86.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. Analysts predict that Applied Materials will post $3.21 earnings per share for the current fiscal year.

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In other news, Director Alexander Karsner sold 22,762 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas F. Larkins sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AMAT. MPS Loria Financial Planners LLC acquired a new position in shares of Applied Materials in the second quarter valued at $109,000. Wunderlich Capital Managemnt raised its stake in shares of Applied Materials by 2.9% in the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after purchasing an additional 87 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after purchasing an additional 1,817 shares in the last quarter. Hanson McClain Inc. raised its stake in shares of Applied Materials by 4.3% in the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after purchasing an additional 139 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Applied Materials in the second quarter valued at $134,000. 79.48% of the stock is owned by institutional investors.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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