Credit Suisse analyst John Pitzer maintained a Buy rating on Applied Materials (AMAT) on May 14 and set a price target of $85.00. The company’s shares closed last Friday at $52.04.
According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 20.1% and a 68.7% success rate. Pitzer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Brooks Automation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Applied Materials with a $68.32 average price target, which is a 28.5% upside from current levels. In a report issued on May 7, Wells Fargo also maintained a Buy rating on the stock.
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The company has a one-year high of $69.44 and a one-year low of $36.64. Currently, Applied Materials has an average volume of 10.88M.
Based on the recent corporate insider activity of 44 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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