Applied Materials, Inc. (NASDAQ:AMAT), with -1.54% losses in previous 5 sessions, is under coverage of 23 analysts who collectively assign a buy rating on stock. 21 of the brokerages firms have a buy or better rating; the 0 sells versus 0 underperforms. The 21 stock analysts who cover the stock have an average PT at $33.5, with individual targets in the range of $25 to $39. The shares ended last trade at $28.22, implying that Wall Street analysts see shares climbing about 18.71 per cent in 12 months’ time.
Insiders at the company look pessimistic about the outlook as they seem to offload shares while they have 53.16 jumped so far this year. A President and CEO at Applied Materials, Inc. (AMAT) sold shares in a trading activity completed on Friday October 07, 2016. Dickerson Gary E offloaded 229,935 shares in the company at a per-share price of $29.71 and ended up generating $6,831,370 in proceeds. Dickerson Gary E retains 1,563,777 shares in the stock after this transaction. A Senior VP, CTO in the company, Nalamasu Omkaram, on Thursday September 01, 2016 collected $2,999,650 from the sale of 99,491 shares at a per-share price of $29.71. Insiders are expected to have better knowledge about the health and prospects of their company, which is why insiders’ move deserves attention.
Investors interested in trading AMAT stock at the current market price of $28.22/share should know the company will next release quarterly results for the October 2016 quarter. For the reporting quarter, equity analysts expect the stock to deliver $0.65 in earnings per share (EPS). That would represent a 124.14 per cent year-over-year increase. Revenue for the same quarter is predicted to arrive at $3.31B.
Historical Quarterly Earnings: Last quarter, Applied Materials, Inc. generated nearly $2.82B in sales and net income of $0.5/share. That compares with the mean forecast $2.84B and $0.48/share, respectively. For the prior quarter revenue for the stock hit $2.45B, with EPS at $0.34.
Susquehanna is following shares of Applied Materials, Inc. (AMAT), so its rating change is noteworthy. The company stock was upgraded to Neutral from Negative, wrote analysts at Susquehanna, in a research note issued to clients on Tuesday June 28, 2016. There was another key research note provided by DA Davidson on Monday June 27, 2016. The firm lifted its rating on AMAT from Neutral to Buy.
Price Potential: Even though the stock has posted -0.18% fall in value, its new closing price reflects a -9.17% fall in value from company’s one year high of $31.07. The stock is currently holding below its 50-day SMA of $29.16 and above its 200-day SMA of $25.98. Over the last 3 months and over the last 6 months, the shares of Applied Materials, Inc. (AMAT), have changed 5.54% and 42.99%, respectively.