Barclays Capital Reaffirms Equalweight Rating on Applied Materials (AMAT)
A number of other firms have also recently commented on AMAT. Analysts at Bank of America (NYSE: BAC) cut their price target on shares of Applied Materials from $14.50 to $13.50 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Stifel Nicolaus cut their price target on shares of Applied Materials from $16.00 to $13.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase (NYSE: JPM) cut their price target on shares of Applied Materials from $14.00 to $10.00 in a research note to investors on Wednesday, May 16th.
Shares of Applied Materials traded up 1.16% during mid-day trading on Friday, hitting $10.48. Applied Materials has a 52 week low of $9.70 and a 52 week high of $15.90. The company has a market cap of $13.509 billion and a P/E ratio of 10.23.
Applied Materials last announced its earnings results on Thursday, May 17th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.03. Applied Materials’s revenue was down 11.3% compared to the same quarter last year. On average, analysts predict that Applied Materials will post $0.24 earnings per share next quarter.
Applied Materials, Inc. (Applied) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.