Applied Materials (NASDAQ:AMAT) Price Target Raised to $190.00 at Morgan Stanley

Applied Materials (NASDAQ:AMATGet Free Report) had its price objective raised by research analysts at Morgan Stanley from $142.00 to $190.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the manufacturing equipment provider’s stock. Morgan Stanley’s target price indicates a potential upside of 2.40% from the company’s previous close.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on Applied Materials from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, November 17th. B. Riley increased their target price on Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Barclays lifted their target price on Applied Materials from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Finally, Bank Of America (Bofa) increased their price target on shares of Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $171.50.

Read Our Latest Research Report on Applied Materials

Applied Materials Stock Performance

Applied Materials stock traded down $0.30 during mid-day trading on Monday, reaching $185.54. 7,023,961 shares of the company’s stock were exchanged, compared to its average volume of 6,366,142. Applied Materials has a one year low of $109.00 and a one year high of $188.21. The business’s fifty day simple moving average is $160.18 and its 200 day simple moving average is $149.49. The company has a quick ratio of 1.82, a current ratio of 2.60 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $154.38 billion, a PE ratio of 22.88, a P/E/G ratio of 3.67 and a beta of 1.55.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.14. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.52 billion. Applied Materials had a return on equity of 46.12% and a net margin of 25.85%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 EPS. On average, sell-side analysts expect that Applied Materials will post 7.61 earnings per share for the current year.

Insider Buying and Selling at Applied Materials

In related news, SVP Omkaram Nalamasu sold 23,228 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $162.45, for a total value of $3,773,388.60. Following the completion of the transaction, the senior vice president now owns 190,972 shares in the company, valued at approximately $31,023,401.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Applied Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in AMAT. BlackRock Inc. grew its position in Applied Materials by 2.9% during the 2nd quarter. BlackRock Inc. now owns 71,782,658 shares of the manufacturing equipment provider’s stock worth $10,375,465,000 after purchasing an additional 2,033,896 shares during the period. State Street Corp raised its position in Applied Materials by 0.8% during the first quarter. State Street Corp now owns 38,434,684 shares of the manufacturing equipment provider’s stock valued at $4,720,928,000 after acquiring an additional 301,010 shares in the last quarter. Capital World Investors lifted its holdings in Applied Materials by 11.8% in the second quarter. Capital World Investors now owns 36,698,147 shares of the manufacturing equipment provider’s stock valued at $5,304,331,000 after acquiring an additional 3,865,159 shares during the period. Capital International Investors increased its holdings in shares of Applied Materials by 0.8% during the 2nd quarter. Capital International Investors now owns 20,882,645 shares of the manufacturing equipment provider’s stock valued at $3,018,370,000 after purchasing an additional 160,472 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Applied Materials by 7.1% in the second quarter. Geode Capital Management LLC now owns 16,991,062 shares of the manufacturing equipment provider’s stock worth $2,449,796,000 after acquiring an additional 1,119,675 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

About Applied Materials

(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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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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