AMAT has been the subject of several other reports. Cowen reiterated an “outperform” rating and issued a $55.00 target price (up from $53.00) on shares of Applied Materials in a research report on Friday, August 16th. Wells Fargo & Co reiterated a “positive” rating and issued a $58.00 target price (up from $52.00) on shares of Applied Materials in a research report on Wednesday, September 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $54.00 target price on shares of Applied Materials in a research report on Wednesday, August 14th. Susquehanna Bancshares set a $60.00 target price on Applied Materials and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus set a $57.00 target price on Applied Materials and gave the company a “buy” rating in a research report on Monday, August 26th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Applied Materials currently has an average rating of “Buy” and a consensus target price of $51.86.
Shares of AMAT stock traded up $0.68 on Friday, hitting $50.32. 769,379 shares of the company’s stock were exchanged, compared to its average volume of 7,344,283. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.65 and a quick ratio of 1.72. Applied Materials has a 12 month low of $28.79 and a 12 month high of $52.62. The stock has a market cap of $46.21 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 3.34 and a beta of 1.65. The company has a 50 day moving average of $49.00 and a 200 day moving average of $44.81.
In other news, SVP Steve G. Ghanayem sold 25,727 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total transaction of $1,340,891.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis D. Powell sold 25,218 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The disclosure for this sale can be found here. Insiders have sold 53,945 shares of company stock valued at $2,776,105 over the last 90 days. 0.44% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC acquired a new stake in Applied Materials during the first quarter worth approximately $27,000. Next Capital Management LLC acquired a new stake in Applied Materials in the second quarter valued at approximately $35,000. Sandy Spring Bank grew its stake in Applied Materials by 57.4% in the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock valued at $35,000 after acquiring an additional 287 shares during the period. Coastal Capital Group Inc. acquired a new stake in Applied Materials in the second quarter valued at approximately $36,000. Finally, Front Row Advisors LLC grew its stake in Applied Materials by 283.6% in the first quarter. Front Row Advisors LLC now owns 821 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 607 shares during the period. 78.70% of the stock is owned by institutional investors and hedge funds.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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