Applied Materials, Inc. (AMAT) Upgraded at Vetr Inc.

Applied Materials, Inc. (NASDAQ:AMAT) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday, July 24th. The firm presently has a $48.70 price objective on the manufacturing equipment provider’s stock. Vetr‘s price objective points to a potential upside of 13.05% from the stock’s previous close.

A number of other brokerages have also issued reports on AMAT. B. Riley restated a “buy” rating and set a $56.00 target price on shares of Applied Materials in a research report on Sunday, July 16th. Bank of America Corporation reiterated a “buy” rating and set a $54.00 price target (up previously from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. UBS AG restated a “buy” rating and issued a $51.00 target price (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $40.00 price target (up previously from $35.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $50.00 price target on shares of Applied Materials in a research note on Wednesday, May 17th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $46.60.

Shares of Applied Materials (AMAT) opened at 43.08 on Monday. Applied Materials has a 52-week low of $27.00 and a 52-week high of $47.86. The firm’s 50-day moving average price is $44.26 and its 200-day moving average price is $40.97. The stock has a market capitalization of $46.30 billion, a P/E ratio of 17.82 and a beta of 1.82. Applied Materials also saw some unusual options trading activity on Wednesday. Stock investors purchased 2,307 call options on the company. This is an increase of 118% compared to the average volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. Applied Materials’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. Equities analysts forecast that Applied Materials will post $3.11 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC increased its position in Applied Materials by 0.3% in the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 10 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in Applied Materials by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after buying an additional 29 shares during the last quarter. Adirondack Trust Co. increased its position in Applied Materials by 1.1% in the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock worth $151,000 after buying an additional 40 shares during the last quarter. Affinity Wealth Management increased its position in Applied Materials by 0.8% in the second quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock worth $264,000 after buying an additional 48 shares during the last quarter. Finally, Regentatlantic Capital LLC increased its position in Applied Materials by 0.3% in the first quarter. Regentatlantic Capital LLC now owns 18,738 shares of the manufacturing equipment provider’s stock worth $729,000 after buying an additional 58 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Materials

To view Vetr’s full report, visit Vetr’s official website.

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