Equities researchers at Wells Fargo & Company began coverage on shares of Applied Materials (NASDAQ:AMAT) in a note issued to investors on Tuesday, The Fly reports. The firm set an “outperform” rating on the manufacturing equipment provider’s stock.

AMAT has been the topic of several other reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Applied Materials in a research report on Tuesday, August 29th. Goldman Sachs Group raised Applied Materials from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $52.00 in a research report on Wednesday, September 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Applied Materials in a research report on Thursday, September 14th. Bank of America increased their price target on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, B. Riley reiterated a “buy” rating and issued a $63.00 price target on shares of Applied Materials in a report on Monday, November 13th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $60.99.

Shares of Applied Materials (AMAT) traded up $0.31 on Tuesday, hitting $50.08. The company had a trading volume of 21,028,607 shares, compared to its average volume of 10,040,692. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. The stock has a market cap of $55,361.34, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.99 and a beta of 1.80. Applied Materials has a twelve month low of $31.21 and a twelve month high of $60.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. equities research analysts forecast that Applied Materials will post 3.96 EPS for the current year.

In other news, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in AMAT. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Applied Materials during the third quarter valued at about $105,000. MPS Loria Financial Planners LLC acquired a new position in Applied Materials in the second quarter worth about $109,000. Wunderlich Capital Managemnt grew its stake in Applied Materials by 2.9% in the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after purchasing an additional 87 shares in the last quarter. Bessemer Group Inc. grew its stake in Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after purchasing an additional 1,817 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Applied Materials in the second quarter worth about $134,000. Institutional investors own 78.58% of the company’s stock.

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About Applied Materials

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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