Applied Materials, Inc. (AMAT) Given New $5.00 Price Target at Deutsche Bank AG

Applied Materials, Inc. (NASDAQ:AMAT) had its price objective lifted by research analysts at Deutsche Bank AG from $4.00 to $5.00 in a report issued on Friday. The firm presently has a “buy” rating on the manufacturing equipment provider’s stock. Deutsche Bank AG’s price target would suggest a potential downside of 88.40% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Bank of America Corporation restated a “buy” rating and set a $54.00 price objective (up previously from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. UBS AG reiterated a “buy” rating and issued a $51.00 target price (up from $44.00) on shares of Applied Materials in a report on Wednesday, May 17th. Needham & Company LLC raised their target price on shares of Applied Materials from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Sunday, May 21st. B. Riley reiterated a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a report on Saturday, May 20th. Finally, Credit Suisse Group upgraded shares of Applied Materials to a “buy” rating and set a $54.00 target price for the company in a report on Friday, May 19th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and a consensus price target of $45.28.

Shares of Applied Materials (NASDAQ AMAT) traded up 2.314% during trading on Friday, reaching $44.118. 5,080,081 shares of the company’s stock were exchanged. The firm has a market capitalization of $47.41 billion, a PE ratio of 18.246 and a beta of 1.82. Applied Materials has a 52 week low of $27.56 and a 52 week high of $47.86. The company’s 50-day moving average price is $44.36 and its 200 day moving average price is $41.24.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. Analysts predict that Applied Materials will post $3.11 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in the company. MCF Advisors LLC increased its stake in shares of Applied Materials by 0.3% in the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 10 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its stake in shares of Applied Materials by 0.3% in the second quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after buying an additional 19 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of 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 valued at $162,000 after buying an additional 29 shares during the last quarter. Adirondack Trust Co. increased its stake in shares of Applied Materials by 1.1% in the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock valued at $151,000 after buying an additional 40 shares during the last quarter. Finally, Affinity Wealth Management increased its stake in shares of Applied Materials by 0.8% in the second quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock valued at $264,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.

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