Applied Materials, Inc. (NASDAQ:AMAT)‘s stock had its “buy” rating reissued by equities researchers at Nomura in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $65.00 target price on the manufacturing equipment provider’s stock, up from their previous target price of $55.00. Nomura’s price target suggests a potential upside of 10.70% from the company’s previous close.

A number of other research firms also recently commented on AMAT. Craig Hallum increased their price objective on Applied Materials to $60.00 and gave the company a “buy” rating in a report on Friday, August 18th. Credit Suisse Group reiterated a “buy” rating and issued a $62.00 price objective on shares of Applied Materials in a report on Tuesday, September 26th. Stifel Nicolaus reiterated a “buy” rating on shares of Applied Materials in a report on Sunday, October 1st. Needham & Company LLC increased their price objective on Applied Materials to $66.00 and gave the company a “positive” rating in a report on Friday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Applied Materials in a report on Sunday, August 20th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $60.79.

Applied Materials (NASDAQ AMAT) traded up $1.10 on Tuesday, hitting $58.72. The stock had a trading volume of 6,659,826 shares, compared to its average volume of 9,885,488. Applied Materials has a fifty-two week low of $29.85 and a fifty-two week high of $60.89. The stock has a market cap of $62,500.00, a P/E ratio of 17.38, a P/E/G ratio of 0.87 and a beta of 1.85. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. analysts forecast that Applied Materials will post 3.86 EPS for the current year.

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In related news, Director Alexander Karsner sold 22,762 shares of the firm’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 can be accessed through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the firm’s 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 company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Applied Materials in the 3rd quarter valued at approximately $2,204,000. Americafirst Capital Management LLC purchased a new position in Applied Materials in the 3rd quarter valued at approximately $403,000. Cypress Capital Group purchased a new position in Applied Materials in the 3rd quarter valued at approximately $365,000. Belpointe Asset Management LLC purchased a new position in Applied Materials in the 3rd quarter valued at approximately $741,000. Finally, Independent Advisor Alliance increased its stake in Applied Materials by 23.6% in the 3rd quarter. Independent Advisor Alliance now owns 14,710 shares of the manufacturing equipment provider’s stock valued at $775,000 after purchasing an additional 2,809 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Company Profile

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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