Needham Sticks to Their Buy Rating for Applied Materials Inc (AMAT)

By Carrie Williams

Needham analyst Quinn Bolton maintained a Buy rating on Applied Materials Inc (AMATResearch Report) on August 16 and set a price target of $52. The company’s shares closed last Monday at $46.63.

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 16.3% and a 66.4% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Ultra Clean Holdings, and Ichor Holdings Ltd.

Applied Materials Inc has an analyst consensus of Moderate Buy, with a price target consensus of $50.87, which is a 10.7% upside from current levels. 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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The company has a one-year high of $52.42 and a one-year low of $28.79. Currently, Applied Materials Inc has an average volume of 9.62M.

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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.