Applied Materials (AMAT) Received its Third Buy in a Row

By Austin Angelo

After Craig-Hallum and RBC Capital gave Applied Materials (NASDAQ: AMAT) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Quinn Bolton maintained a Buy rating on Applied Materials today and set a price target of $65.00. The company’s shares closed last Monday at $56.96, close to its 52-week high of $57.39.

According to, Bolton is a top 25 analyst with an average return of 21.9% and a 71.6% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings, Ultra Clean Holdings, and Skyworks Solutions.

Currently, the analyst consensus on Applied Materials is a Strong Buy with an average price target of $62.42, a 9.2% upside from current levels. In a report issued on November 11, Susquehanna also reiterated a Buy rating on the stock with a $70.00 price target.

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Applied Materials’ market cap is currently $52.62B and has a P/E ratio of 18.99. The company has a Price to Book ratio of 6.48.

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.