Applied Materials (AMAT) Received its Third Buy in a Row

After Merrill Lynch and Nomura gave Applied Materials (NASDAQ: AMAT) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst John Pitzer maintained a Buy rating on Applied Materials yesterday and set a price target of $85.00. The company’s shares closed last Monday at $43.61.

According to, Pitzer is a top 100 analyst with an average return of 18.4% and a 66.2% success rate. Pitzer covers the Consumer Goods sector, focusing on stocks such as Brooks Automation, Texas Instruments, and Maxim Integrated.

Currently, the analyst consensus on Applied Materials is a Strong Buy with an average price target of $68.68, implying a 55.2% upside from current levels. In a report issued on March 19, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $65.00 price target.

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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 47 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. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging. The Applied Global Services segment provides solutions to optimize equipment, performance, and productivity. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays, organic light-emitting diodes; coating systems and display technologies for television; personal computers, tablets, smart phones, and consumer-oriented devices. The company was founded on November 10, 1967 and is headquartered in Santa Clara, CA.

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