Bank of America Boosts Applied Materials (NASDAQ:AMAT) Price Target to $720.00

Posted by Michael Walen on Jun 23rd, 2026

Applied Materials (NASDAQ:AMAT – Get Free Report) had its target price hoisted by equities research analysts at Bank of America from $540.00 to $720.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the manufacturing equipment provider’s stock. Bank of America‘s price objective points to a potential upside of 12.47% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Citigroup raised their price objective on Applied Materials from $550.00 to $710.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Cantor Fitzgerald boosted their price target on shares of Applied Materials from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. UBS Group raised their price objective on shares of Applied Materials from $515.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. B. Riley Financial boosted their target price on shares of Applied Materials from $530.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Erste Group Bank raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Monday, April 27th. Twenty-seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $501.26.

View Our Latest Stock Analysis on AMAT

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $640.18 on Tuesday. The firm has a market capitalization of $508.28 billion, a P/E ratio of 60.11, a P/E/G ratio of 1.72 and a beta of 1.67. The firm’s 50-day moving average price is $455.89 and its 200-day moving average price is $368.31. The company has a current ratio of 2.51, a quick ratio of 1.80 and a debt-to-equity ratio of 0.22. Applied Materials has a 1-year low of $154.46 and a 1-year high of $641.18.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its earnings results on Thursday, May 14th. The manufacturing equipment provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.68 by $0.18. Applied Materials had a return on equity of 36.97% and a net margin of 29.31%.The company had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $7.68 billion. During the same period last year, the business posted $2.39 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Applied Materials has set its Q3 2026 guidance at 3.160-3.560 EPS. Equities research analysts anticipate that Applied Materials will post 12.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Applied Materials news, Director Thomas J. Iannotti sold 9,250 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $599.77, for a total value of $5,547,872.50. Following the sale, the director directly owned 40,559 shares in the company, valued at $24,326,071.43. The trade was a 18.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Omkaram Nalamasu sold 24,263 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $593.43, for a total value of $14,398,392.09. Following the transaction, the senior vice president directly owned 146,916 shares in the company, valued at $87,184,361.88. This represents a 14.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 199,767 shares of company stock valued at $114,104,709. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Applied Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its holdings in Applied Materials by 4.9% during the third quarter. First Trust Advisors LP now owns 3,101,772 shares of the manufacturing equipment provider’s stock valued at $635,057,000 after purchasing an additional 145,050 shares in the last quarter. Elo Mutual Pension Insurance Co increased its stake in shares of Applied Materials by 21.8% in the third quarter. Elo Mutual Pension Insurance Co now owns 96,712 shares of the manufacturing equipment provider’s stock worth $19,801,000 after purchasing an additional 17,288 shares in the last quarter. Worth Asset Management LLC bought a new stake in shares of Applied Materials during the 4th quarter valued at $1,531,000. World Investment Advisors lifted its stake in shares of Applied Materials by 4.5% during the 4th quarter. World Investment Advisors now owns 82,296 shares of the manufacturing equipment provider’s stock valued at $21,149,000 after buying an additional 3,508 shares in the last quarter. Finally, Avity Investment Management Inc. lifted its stake in shares of Applied Materials by 1.1% during the 3rd quarter. Avity Investment Management Inc. now owns 223,211 shares of the manufacturing equipment provider’s stock valued at $45,700,000 after buying an additional 2,376 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Trending Headlines about Applied Materials

Here are the key news stories impacting Applied Materials this week:

Positive Sentiment: Citi raised its price target on Applied Materials to $710 from $550 and kept a Buy rating, reinforcing confidence that semiconductor equipment demand remains strong. A Growing Supply Gap Has Analysts Eyeing Applied Materials (AMAT)
Positive Sentiment: Reuters reported that Applied Materials signed a long-term deal with EssilorLuxottica to develop augmented-reality display technology and AI glasses, expanding its growth opportunities beyond core chip equipment. Applied Materials (AMAT) and EssilorLuxottica Sign Long-Term Deal, Reuters Reports
Positive Sentiment: Recent market commentary suggests AI demand could help justify Applied Materials’ premium valuation, with investors betting on sustained semiconductor infrastructure spending. Applied Materials Is Now More Expensive Than Its Dot-Com Era Peak. AI Demand Justifies the AMAT Stock Valuation.
Neutral Sentiment: Insider Prabu G. Raja sold 10,000 shares for about $6.3 million, a disclosure that may attract attention but does not necessarily signal a change in the company’s fundamentals. SEC Form 4 filing
Negative Sentiment: Some commentary warns that AMAT’s valuation has become stretched, which could cap near-term upside if growth expectations soften. Applied Materials Stock Looks Pricey—Can AI Demand Justify the Rally?

About Applied Materials

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Applied Materials, Inc is a U.S.-based supplier of equipment, services and software used to manufacture semiconductor chips, flat panel displays and other advanced materials. Headquartered in Santa Clara, California, the company designs and sells capital equipment and related technologies that enable production of integrated circuits, display panels and materials used across the electronics supply chain.

Applied Materials’ offerings include process equipment and factory software that support critical steps in device fabrication, such as deposition, etch, implantation, inspection and metrology, as well as systems for packaging and advanced heterogeneous integration.