Applied Materials (NASDAQ:AMAT) Rating Increased to Overweight at KeyCorp

Applied Materials (NASDAQ:AMAT) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Friday,Briefing.com Automated Import reports. The brokerage currently has a $225.00 target price on the manufacturing equipment provider’s stock. KeyCorp’s price target indicates a potential upside of 20.66% from the company’s current price.

Several other research firms have also recently commented on AMAT. Needham & Company LLC lowered their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Wells Fargo & Company reduced their price objective on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Susquehanna reduced their price target on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, Evercore ISI dropped their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and an average price target of $218.55.

Applied Materials Stock Up 4.5 %

Shares of NASDAQ AMAT opened at $186.48 on Friday. The company’s 50 day moving average price is $173.25 and its 200-day moving average price is $191.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials has a 52-week low of $150.20 and a 52-week high of $255.89. The company has a market capitalization of $151.74 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 1.75 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. Applied Materials’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts forecast that Applied Materials will post 9.37 earnings per share for the current year.

Institutional Trading of Applied Materials

A number of hedge funds have recently bought and sold shares of the business. Clean Yield Group purchased a new stake in shares of Applied Materials during the 3rd quarter valued at $33,000. First PREMIER Bank grew its position in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials during the third quarter worth about $37,000. DT Investment Partners LLC raised its position in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares during the period. Finally, Dunhill Financial LLC boosted its stake in Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Company Profile

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.