Applied Materials, Inc. (NASDAQ:AMAT) had its price target lifted by equities research analysts at Royal Bank Of Canada from $55.00 to $64.00 in a research report issued on Friday, MarketBeat reports. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 13.29% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price for the company in a report on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $61.00 target price (up from $55.00) on shares of Applied Materials in a report on Friday, August 18th. Credit Suisse Group upped their target price on Applied Materials from $5.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Finally, B. Riley reaffirmed a “buy” rating and set a $61.00 target price on shares of Applied Materials in a report on Saturday, August 19th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $59.35.

Applied Materials (NASDAQ AMAT) traded down $1.35 during trading hours on Friday, hitting $56.49. The stock had a trading volume of 27,143,170 shares, compared to its average volume of 9,864,950. The company has a market capitalization of $61,690.00, a price-to-earnings ratio of 18.93, a PEG ratio of 0.90 and a beta of 1.85. Applied Materials has a 52 week low of $29.85 and a 52 week high of $60.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.91 and a quick ratio of 2.25.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. sell-side analysts forecast that Applied Materials will post 3.22 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/11/18/applied-materials-inc-amat-price-target-raised-to-64-00.html.

In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Summit Financial Wealth Advisors LLC raised its stake in Applied Materials by 0.3% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after purchasing an additional 19 shares during the period. Adirondack Trust Co. raised its stake in Applied Materials by 1.1% during the 2nd quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock valued at $151,000 after purchasing an additional 40 shares during the period. Affinity Wealth Management raised its stake in Applied Materials by 0.8% during the 2nd quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock valued at $264,000 after purchasing an additional 48 shares during the period. Wunderlich Capital Managemnt raised its stake in Applied Materials by 2.9% during the 2nd 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 during the period. Finally, Honkamp Krueger Financial Services Inc. raised its stake in Applied Materials by 0.5% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock valued at $864,000 after purchasing an additional 97 shares during the period. 79.35% of the stock is currently owned by institutional investors.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.