Applied Materials (NASDAQ:AMAT) Price Target Raised to $137.00 at Morgan Stanley

Applied Materials (NASDAQ:AMAT) had its price objective upped by equities research analysts at Morgan Stanley from $113.00 to $137.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the manufacturing equipment provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.75% from the stock’s current price.

AMAT has been the subject of several other reports. Citigroup upped their price objective on shares of Applied Materials from $80.00 to $130.00 in a report on Monday, January 25th. Needham & Company LLC upped their price objective on shares of Applied Materials from $130.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, April 13th. Stifel Nicolaus upped their price objective on shares of Applied Materials from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, April 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Applied Materials from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 22nd. Finally, Bank of America upped their price objective on shares of Applied Materials from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 29th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $148.40.

Shares of AMAT opened at $124.83 on Monday. The firm has a market cap of $114.55 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.12 and a current ratio of 3.00. Applied Materials has a fifty-two week low of $51.17 and a fifty-two week high of $146.00. The firm has a 50 day moving average price of $133.10 and a 200-day moving average price of $104.63.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.11. Applied Materials had a net margin of 21.04% and a return on equity of 40.65%. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $4.98 billion. During the same period in the prior year, the business posted $0.98 EPS. As a group, equities research analysts predict that Applied Materials will post 4.97 earnings per share for the current year.

In other Applied Materials news, CEO Gary E. Dickerson sold 105,184 shares of the firm’s stock in a transaction that occurred on Friday, April 9th. The shares were sold at an average price of $140.00, for a total transaction of $14,725,760.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $127.89, for a total transaction of $639,450.00. The disclosure for this sale can be found here. Insiders sold a total of 180,684 shares of company stock worth $25,123,240 in the last quarter. Company insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Prestige Wealth Management Group LLC grew its holdings in Applied Materials by 42.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock valued at $25,000 after buying an additional 88 shares in the last quarter. Key Financial Inc purchased a new position in shares of Applied Materials in the fourth quarter valued at $26,000. Curi Capital purchased a new position in shares of Applied Materials in the fourth quarter valued at $31,000. GPS Wealth Strategies Group LLC purchased a new position in shares of Applied Materials in the first quarter valued at $33,000. Finally, Addison Advisors LLC purchased a new position in Applied Materials during the fourth quarter worth $38,000. 78.80% of the stock is owned by institutional investors and hedge funds.

About Applied Materials

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 and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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