Goldman Sachs Upgrades Applied Materials to Neutral (AMAT)
Shares of Applied Materials traded down 1.31% during mid-day trading on Wednesday, hitting $10.53. Applied Materials has a one year low of $9.70 and a one year high of $13.94. The company has a market cap of $13.573 billion and a P/E ratio of 10.53.
Applied Materials last issued its quarterly earnings data on Thursday, May 17th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.03. The company’s quarterly revenue was down 11.3% on a year-over-year basis. On average, analysts predict that Applied Materials will post $0.24 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Applied Materials in a research note to investors on Monday. They now have a $11.00 price target on the stock. Separately, analysts at Oppenheimer (NYSE: OPY) reiterated an “outperform” rating on shares of Applied Materials in a research note to investors on Monday. They now have a $16.00 price target on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) reiterated an “equalweight” rating on shares of Applied Materials in a research note to investors on Friday, May 18th.
Applied Materials, Inc. (Applied) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.