Susquehanna Sticks to Their Buy Rating for Applied Materials (AMAT)

By Jason Carr

Susquehanna analyst Mehdi Hosseini reiterated a Buy rating on Applied Materials (AMATResearch Report) today and set a price target of $80.00. The company’s shares closed last Monday at $56.96, close to its 52-week high of $57.39.

According to TipRanks.com, Hosseini is a 5-star analyst with an average return of 9.7% and a 51.9% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Keysight Technologies.

Currently, the analyst consensus on Applied Materials is a Moderate Buy with an average price target of $63.23, representing a 10.7% upside. In a report issued on November 11, B.Riley FBR also maintained a Buy rating on the stock with a $67.00 price target.

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The company has a one-year high of $57.39 and a one-year low of $28.79. Currently, Applied Materials has an average volume of 6.78M.

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.