Applied Materials Inc (AMAT) Receives a Buy from Needham

By Austin Angelo

In a report issued on May 17, Quinn Bolton from Needham reiterated a Buy rating on Applied Materials Inc (AMATResearch Report), with a price target of $52. The company’s shares closed on Friday at $42.70.

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 15.8% and a 65.5% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Quantenna Communications, and Ultra Clean Holdings.

Applied Materials Inc has an analyst consensus of Strong Buy, with a price target consensus of $51.36, representing a 20.3% upside. In a report issued on May 17, B.Riley FBR also upgraded the stock to Buy with a $54 price target.

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The company has a one-year high of $53.23 and a one-year low of $28.79. Currently, Applied Materials Inc has an average volume of 9.39M.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock.

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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.