Applied Materials (NASDAQ:AMAT) PT Raised to $178.00 at Mizuho

Applied Materials (NASDAQ:AMAT) had its target price lifted by stock analysts at Mizuho from $161.00 to $178.00 in a research report issued on Thursday, The Fly reports. Mizuho’s target price indicates a potential upside of 6.59% from the company’s previous close.

A number of other brokerages have also issued reports on AMAT. Wells Fargo & Company increased their price objective on Applied Materials from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Stifel Nicolaus upped their target price on Applied Materials from $180.00 to $189.00 and gave the stock a “buy” rating in a research report on Friday, November 19th. Needham & Company LLC upped their target price on Applied Materials from $153.00 to $166.00 and gave the stock a “buy” rating in a research report on Friday, November 19th. Jefferies Financial Group assumed coverage on Applied Materials in a research report on Wednesday, January 5th. They issued a “buy” rating and a $197.00 target price for the company. Finally, Piper Sandler assumed coverage on Applied Materials in a research report on Thursday, October 14th. They issued a “neutral” rating and a $130.00 target price for the company. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials currently has an average rating of “Buy” and a consensus price target of $166.00.

Shares of AMAT stock opened at $167.00 on Thursday. Applied Materials has a 12-month low of $96.07 and a 12-month high of $167.06. The firm has a market capitalization of $148.38 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. The business has a 50 day simple moving average of $153.22 and a 200 day simple moving average of $141.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.54 and a quick ratio of 1.86.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.01). Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, equities analysts anticipate that Applied Materials will post 8.13 EPS for the current fiscal year.

In other news, CEO Gary E. Dickerson sold 300,000 shares of the company’s stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $152.79, for a total value of $45,837,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its stake in shares of Applied Materials by 10.1% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 742 shares of the manufacturing equipment provider’s stock worth $117,000 after acquiring an additional 68 shares during the last quarter. TPG Financial Advisors LLC increased its stake in shares of Applied Materials by 39.5% in the fourth quarter. TPG Financial Advisors LLC now owns 3,306 shares of the manufacturing equipment provider’s stock worth $520,000 after acquiring an additional 936 shares during the last quarter. Five Oceans Advisors acquired a new position in Applied Materials during the fourth quarter worth $231,000. Centerpoint Advisors LLC increased its position in Applied Materials by 2.5% during the fourth quarter. Centerpoint Advisors LLC now owns 6,150 shares of the manufacturing equipment provider’s stock worth $968,000 after buying an additional 150 shares during the last quarter. Finally, Intermede Investment Partners Ltd acquired a new position in Applied Materials during the fourth quarter worth $142,021,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

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