Applied Materials (AMAT) Receives a Buy from Berenberg Bank

By Ryan Adsit

Berenberg Bank analyst Tammy Qiu maintained a Buy rating on Applied Materials (AMATResearch Report) yesterday and set a price target of $65.00. The company’s shares closed last Monday at $56.44.

According to TipRanks.com, Qiu is a 5-star analyst with an average return of 22.4% and a 63.0% success rate. Qiu covers the Consumer Goods sector, focusing on stocks such as Infineon Technologies AG, Lam Research, and Kla-Tencor.

Applied Materials has an analyst consensus of Moderate Buy, with a price target consensus of $65.67, a 15.9% 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 $52.14B and has a P/E ratio of 19.74. The company has a Price to Book ratio of 6.42.

Based on the recent corporate insider activity of 47 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.