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

Applied Materials (NASDAQ:AMAT - Get Free Report) had its target price hoisted by research analysts at Wells Fargo & Company from $200.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the manufacturing equipment provider's stock. Wells Fargo & Company's price objective would indicate a potential upside of 10.04% from the stock's previous close.

Several other equities analysts have also commented on AMAT. B. Riley decreased their price objective on Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Wall Street Zen downgraded Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. TD Cowen cut their price objective on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus reduced 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, Morgan Stanley raised their target price on shares of Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Applied Materials has an average rating of "Moderate Buy" and an average target price of $202.65.

Applied Materials Stock Performance

Shares of Applied Materials stock traded up $0.40 during trading hours on Tuesday, reaching $195.39. 6,169,668 shares of the stock traded hands, compared to its average volume of 7,110,360. The company has a 50 day moving average price of $169.18 and a 200 day moving average price of $164.35. 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 firm has a market capitalization of $156.80 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 2.17 and a beta of 1.69. Applied Materials has a one year low of $123.74 and a one year high of $255.89.

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

Insider Activity at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were 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 of the company's stock, valued at $946,580. This represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company's stock.

Institutional Trading of Applied Materials

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