Credit Suisse analyst John Pitzer reiterated a Buy rating on Applied Materials (AMAT) on February 10 and set a price target of $70.00. The company’s shares closed last Monday at $65.37, close to its 52-week high of $65.68.
According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 22.6% and a 74.2% success rate. Pitzer covers the Consumer Goods sector, focusing on stocks such as Keysight Technologies, Brooks Automation, and Texas Instruments.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Applied Materials with a $72.69 average price target, an 12.0% upside from current levels. In a report issued on February 2, Deutsche Bank also upgraded the stock to Buy.
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Based on Applied Materials’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $4.16 billion and net profit of $892 million. In comparison, last year the company earned revenue of $3.75 billion and had a net profit of $771 million.
Based on the recent corporate insider activity of 46 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.
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