After B.Riley FBR and Needham gave Applied Materials (NASDAQ: AMAT) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Weston Twigg maintained a Buy rating on Applied Materials today and set a price target of $86.00. The company’s shares closed last Monday at $65.37, close to its 52-week high of $65.68.
According to TipRanks.com, Twigg is a top 100 analyst with an average return of 28.7% and a 75.3% success rate. Twigg covers the Consumer Goods sector, focusing on stocks such as MKS Instruments, Lam Research, and Microchip.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Applied Materials with a $70.47 average price target, implying an 8.5% upside from current levels. In a report issued on February 2, Deutsche Bank also upgraded the stock to Buy.
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The company has a one-year high of $65.68 and a one-year low of $36.80. Currently, Applied Materials has an average volume of 6.96M.
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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