Wells Fargo & Company Increases Applied Materials (NASDAQ:AMAT) Price Target to $215.00

Applied Materials (NASDAQ:AMAT - Get Free Report) had its price target raised by Wells Fargo & Company from $200.00 to $215.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the manufacturing equipment provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 8.62% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a "buy" rating and issued a $195.00 target price on shares of Applied Materials in a research report on Friday, May 16th. Morgan Stanley boosted their target price on shares of Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Bank of America reduced their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group raised shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price for the company in a research report on Friday, March 28th. Finally, Barclays dropped their price target on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Applied Materials has a consensus rating of "Moderate Buy" and an average price target of $203.65.

Applied Materials Stock Down 0.1%

Shares of NASDAQ:AMAT traded down $0.10 during midday trading on Tuesday, hitting $197.93. The stock had a trading volume of 4,423,891 shares, compared to its average volume of 7,109,438. Applied Materials has a 12 month low of $123.74 and a 12 month high of $248.81. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The business's 50-day simple moving average is $171.91 and its 200-day simple moving average is $164.98. The company has a market cap of $158.84 billion, a P/E ratio of 24.08, a PEG ratio of 2.20 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same period last year, the business earned $2.09 earnings per share. The firm's revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts forecast that Applied Materials will post 9.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 562 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the sale, the chief accounting officer directly owned 5,300 shares in the company, valued at $946,580. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by insiders.

Institutional Trading of Applied Materials

Institutional investors have recently added to or reduced their stakes in the stock. Runnymede Capital Advisors Inc. boosted its holdings in Applied Materials by 972.2% in the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in Applied Materials in the first quarter valued at approximately $29,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Applied Materials by 435.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider's stock valued at $31,000 after acquiring an additional 174 shares during the last quarter. Activest Wealth Management boosted its holdings in Applied Materials by 5,325.0% in the first quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider's stock valued at $31,000 after acquiring an additional 213 shares during the last quarter. Finally, Greenline Partners LLC bought a new position in shares of Applied Materials during the 1st quarter worth approximately $39,000. 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.