Applied Materials’ (AMAT) Overweight Rating Reaffirmed at Cantor Fitzgerald

by · The Cerbat Gem

Applied Materials (NASDAQ:AMAT – Get Free Report)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They presently have a $250.00 target price on the manufacturing equipment provider’s stock. Cantor Fitzgerald’s price target points to a potential upside of 21.92% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Stifel Nicolaus reduced their price objective on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.90.

View Our Latest Report on AMAT

Applied Materials Price Performance

NASDAQ AMAT opened at $205.06 on Tuesday. The company has a market cap of $169.78 billion, a PE ratio of 23.57, a P/E/G ratio of 2.30 and a beta of 1.54. Applied Materials has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The firm’s 50 day moving average price is $194.46 and its 200-day moving average price is $209.84.

Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS. Sell-side analysts forecast that Applied Materials will post 8.49 EPS for the current fiscal year.

Institutional Trading of Applied Materials

Several institutional investors and hedge funds have recently bought and sold shares of AMAT. First National Bank of Mount Dora Trust Investment Services acquired a new position in Applied Materials during the first quarter valued at $1,764,000. GAMMA Investing LLC lifted its holdings in shares of Applied Materials by 89.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after buying an additional 4,239 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Applied Materials by 5.7% in the second quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock worth $552,000 after buying an additional 126 shares during the last quarter. International Assets Investment Management LLC raised its position in Applied Materials by 5.4% during the first quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock valued at $699,000 after acquiring an additional 172 shares in the last quarter. Finally, Calton & Associates Inc. acquired a new position in Applied Materials in the first quarter valued at approximately $243,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Company Profile

(Get Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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