KeyBanc Keeps Their Buy Rating on Applied Materials Inc (AMAT)

By Carrie Williams

KeyBanc analyst Weston Twigg maintained a Buy rating on Applied Materials Inc (AMATResearch Report) today and set a price target of $54. The company’s shares closed last Monday at $47.16.

According to TipRanks.com, Twigg is a 5-star analyst with an average return of 23.8% and a 67.4% success rate. Twigg covers the Consumer Goods sector, focusing on stocks such as Intel Corporation, Kla-Tencor Corp, and Lam Research.

Currently, the analyst consensus on Applied Materials Inc is a Strong Buy with an average price target of $50.92, representing an 8.3% upside. In a report issued on August 12, B.Riley FBR also maintained a Buy rating on the stock with a $54 price target.

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Based on Applied Materials Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $3.54 billion and net profit of $666 million. In comparison, last year the company earned revenue of $4.47 billion and had a net profit of $1.17 billion.

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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.