Applied Materials, Inc. (AMAT) Rating Increased to Buy at Vetr Inc.

Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $60.07 price target on the manufacturing equipment provider’s stock. Vetr‘s price objective would suggest a potential upside of 6.34% from the stock’s previous close.

Several other brokerages have also commented on AMAT. Royal Bank Of Canada lifted their price objective on Applied Materials from $55.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday. Credit Suisse Group lifted their price objective on Applied Materials from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. Needham & Company LLC boosted their price target on Applied Materials to $66.00 and gave the company a “positive” rating in a report on Friday. Deutsche Bank AG boosted their price target on Applied Materials from $58.00 to $65.00 and gave the company a “buy” rating in a report on Friday. Finally, J P Morgan Chase & Co boosted their price target on Applied Materials to $70.00 and gave the company an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $59.83.

Shares of Applied Materials (NASDAQ:AMAT) opened at $56.49 on Monday. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. Applied Materials has a fifty-two week low of $29.85 and a fifty-two week high of $60.89. The company has a market capitalization of $60,245.85, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.87 and a beta of 1.85.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. Applied Materials’s revenue was up 20.4% compared to the same quarter last year. analysts forecast that Applied Materials will post 3.86 EPS for the current fiscal year.

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In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction that occurred on 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 SEC, which can be accessed through the SEC website. Also, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Mathes Company Inc. purchased a new stake in Applied Materials during the third quarter valued at approximately $1,613,000. Commonwealth Bank of Australia raised its position in Applied Materials by 2.7% during the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock valued at $3,632,000 after purchasing an additional 2,279 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Applied Materials during the second quarter valued at approximately $2,082,000. Bridgewater Associates LP purchased a new stake in Applied Materials during the second quarter valued at approximately $8,834,000. Finally, Paragon Capital Management Ltd purchased a new stake in Applied Materials during the third quarter valued at approximately $267,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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