RBC Capital Believes Applied Materials (AMAT) Won’t Stop Here


In a report released yesterday, Mitch Steves from RBC Capital maintained a Buy rating on Applied Materials (AMAT), with a price target of $75.00. The company’s shares closed last Tuesday at $64.46, close to its 52-week high of $69.44.

According to TipRanks.com, Steves is a top 100 analyst with an average return of 29.3% and a 75.5% success rate. Steves covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Dialog Semiconductor, and Texas Instruments.

Currently, the analyst consensus on Applied Materials is a Moderate Buy with an average price target of $70.17, implying a 7.4% upside from current levels. In a report issued on August 10, B.Riley FBR also maintained a Buy rating on the stock with a $72.00 price target.

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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 7.1M.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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