Applied Materials (AMAT) Gets a Buy Rating from Susquehanna

By Carrie Williams

Susquehanna analyst Mehdi Hosseini reiterated a Buy rating on Applied Materials (AMATResearch Report) today and set a price target of $70.00. The company’s shares closed last Monday at $56.03, close to its 52-week high of $57.29.

According to TipRanks.com, Hosseini is a 5-star analyst with an average return of 9.7% and a 51.7% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Keysight Technologies, and Universal Display.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Applied Materials with a $54.83 average price target.

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Based on Applied Materials’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $3.56 billion and net profit of $571 million. In comparison, last year the company earned revenue of $4.01 billion and had a net profit of $876 million.

Based on the recent corporate insider activity of 45 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, Inc. engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets.