Wells Fargo Sticks to Their Buy Rating for Applied Materials (AMAT)

By Carrie Williams

Wells Fargo analyst Aaron Rakers maintained a Buy rating on Applied Materials (AMATResearch Report) yesterday. The company’s shares closed last Monday at $56.59, close to its 52-week high of $57.29.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 15.4% and a 66.9% success rate. Rakers covers the Consumer Goods sector, focusing on stocks such as Dell Technologies, Arista Networks, and Cisco Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Applied Materials with a $55.92 average price target, which is a 0.3% upside from current levels. In a report released yesterday, 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 $52.28B and has a P/E ratio of 18.87. The company has a Price to Book ratio of 6.44.

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.