Bernstein analyst Stacy Rasgon maintained a Buy rating on Applied Materials (AMAT – Research Report) yesterday and set a price target of $230.00. The company’s shares closed yesterday at $209.49.
Rasgon covers the Technology sector, focusing on stocks such as Intel, Advanced Micro Devices, and Nvidia. According to TipRanks, Rasgon has an average return of 23.3% and a 66.67% success rate on recommended stocks.
Currently, the analyst consensus on Applied Materials is a Moderate Buy with an average price target of $218.00, a 4.06% upside from current levels. In a report released on March 1, Wells Fargo also maintained a Buy rating on the stock with a $250.00 price target.
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Based on Applied Materials’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $6.71 billion and a net profit of $2.02 billion. In comparison, last year the company earned a revenue of $6.74 billion and had a net profit of $1.72 billion
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMAT in relation to earlier this year.
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Applied Materials (AMAT) Company Description:
Founded in 1967, Applied Materials, Inc. is a California-based company which provides manufacturing equipment, services, and software solutions to the semiconductor, display, and related industries to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets.
Read More on AMAT:
- Applied Materials Names Adam Sanders New VP and Controller
- U.S. issued new wave for information on Applied Materials, Bloomberg says
- Applied Materials introduces portfolio for Angstrom Era chipmaking
- Applied Materials Expands Patterning Solutions Portfolio for Angstrom Era Chipmaking
- Applied Materials price target raised to $230 from $170 at Argus
