Applied Materials (NASDAQ:AMAT) Stock Price Expected to Rise, Mizuho Analyst Says

Applied Materials (NASDAQ:AMAT) had its target price lifted by equities researchers at Mizuho from $195.00 to $220.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the manufacturing equipment provider’s stock. Mizuho’s price target suggests a potential upside of 10.39% from the company’s current price.

AMAT has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price target on shares of Applied Materials from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Applied Materials in a report on Friday, May 16th. Morgan Stanley boosted their price objective on Applied Materials from $158.00 to $169.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Stifel Nicolaus cut their target price on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 price target (down from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $204.74.

Applied Materials Stock Up 1.1%

AMAT stock opened at $199.29 on Monday. The stock has a market capitalization of $159.93 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 2.19 and a beta of 1.69. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. Applied Materials has a 12 month low of $123.74 and a 12 month high of $247.52. The firm has a 50-day moving average price of $173.69 and a 200-day moving average price of $165.38.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $2.09 EPS. As a group, equities research analysts anticipate that Applied Materials will post 9.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the sale, the chief accounting officer directly owned 5,300 shares of the company’s stock, valued at approximately $946,580. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Applied Materials

A number of hedge funds and other institutional investors have recently modified their holdings of AMAT. Retirement Guys Formula LLC lifted its holdings in Applied Materials by 5.7% during the second quarter. Retirement Guys Formula LLC now owns 10,186 shares of the manufacturing equipment provider’s stock worth $1,865,000 after acquiring an additional 547 shares during the period. LeConte Wealth Management LLC bought a new stake in shares of Applied Materials during the 2nd quarter worth $211,000. Avaii Wealth Management LLC purchased a new position in shares of Applied Materials in the 2nd quarter worth about $234,000. Palumbo Wealth Management LLC grew its position in Applied Materials by 3.6% during the second quarter. Palumbo Wealth Management LLC now owns 4,704 shares of the manufacturing equipment provider’s stock valued at $861,000 after buying an additional 162 shares during the period. Finally, McAdam LLC purchased a new stake in Applied Materials during the second quarter worth about $288,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.