Deutsche Bank AG Raises Applied Materials, Inc. (AMAT) Price Target to $52.00

Applied Materials, Inc. (NASDAQ:AMAT) had its price objective raised by stock analysts at Deutsche Bank AG from $48.00 to $52.00 in a research note issued on Friday. The firm presently has a “buy” rating on the manufacturing equipment provider’s stock. Deutsche Bank AG’s price objective points to a potential upside of 16.99% from the company’s current price.

AMAT has been the topic of several other research reports. Zacks Investment Research cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Bank of America Corporation reiterated a “buy” rating and issued a $65.00 price target (up previously from $58.00) on shares of Applied Materials in a report on Sunday, June 11th. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price target on shares of Applied Materials in a report on Monday, August 14th. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 price target on the stock in a report on Thursday, June 29th. Finally, BidaskClub cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Applied Materials presently has a consensus rating of “Buy” and an average target price of $51.44.

Applied Materials (AMAT) traded down 0.911% during midday trading on Friday, reaching $44.045. 3,255,721 shares of the company’s stock traded hands. The firm has a market cap of $47.17 billion, a price-to-earnings ratio of 15.658 and a beta of 1.82. The stock’s 50 day moving average price is $44.50 and its 200 day moving average price is $41.47. Applied Materials has a 1-year low of $27.56 and a 1-year high of $47.86.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities research analysts anticipate that Applied Materials will post $3.20 EPS for the current year.

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Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock worth $2,606,676,000 after buying an additional 63,912,660 shares during the period. Egerton Capital UK LLP acquired a new position in shares of Applied Materials during the first quarter worth $452,897,000. Janus Henderson Group PLC raised its position in shares of Applied Materials by 390.4% in the second quarter. Janus Henderson Group PLC now owns 11,446,282 shares of the manufacturing equipment provider’s stock worth $472,835,000 after buying an additional 9,112,328 shares during the period. FMR LLC raised its position in shares of Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock worth $1,245,311,000 after buying an additional 4,604,275 shares during the period. Finally, LSV Asset Management raised its position in shares of Applied Materials by 151.5% in the first quarter. LSV Asset Management now owns 7,572,100 shares of the manufacturing equipment provider’s stock worth $294,554,000 after buying an additional 4,561,500 shares during the period. 79.33% of the stock is owned by institutional investors and hedge funds.

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