In a report released on September 14, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Applied Materials (AMAT – Research Report), with a price target of $158.00. The company’s shares closed yesterday at $140.27.
According to TipRanks, Rakesh is a top 100 analyst with an average return of 21.3% and a 61.57% success rate. Rakesh covers the Technology sector, focusing on stocks such as Intel, Applied Materials, and Nvidia.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Applied Materials with a $161.47 average price target, implying a 15.11% upside from current levels. In a report released on September 14, Wolfe Research also initiated coverage with a Buy rating on the stock with a $185.00 price target.
AMAT market cap is currently $115.7B and has a P/E ratio of 18.23.
Based on the recent corporate insider activity of 37 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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Founded in 1967, Applied Materials, Inc. is a California-based company which provides manufacturing equipment, services, and software solutions to the semiconductor, display, and related industries 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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