Today’s Market Runner: Is Applied Materials, Inc. a Buy? The Stock Reaches 52-Week High Today

Today's Market Runner: Is Applied Materials, Inc. a Buy? The Stock Reaches 52 Week High Today

The stock of Applied Materials, Inc. (NASDAQ:AMAT) hit a new 52-week high and has $39.04 target or 28.00% above today’s $30.50 share price. The 8 months bullish chart indicates low risk for the $33.75B company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $39.04 price target is reached, the company will be worth $9.45B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.75M shares traded hands. Applied Materials, Inc. (NASDAQ:AMAT) has risen 42.53% since April 18, 2016 and is uptrending. It has outperformed by 38.10% the S&P500.

Applied Materials, Inc. (NASDAQ:AMAT) Ratings Coverage

Out of 22 analysts covering Applied Materials Inc. (NASDAQ:AMAT), 20 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 91% are positive. $35 is the highest target while $12 is the lowest. The $27.26 average target is -10.62% below today’s ($30.5) stock price. Applied Materials Inc. has been the topic of 65 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Applied Materials, Inc. (NASDAQ:AMAT) earned “Buy” rating by Deutsche Bank on Thursday, August 13. The rating was downgraded by Credit Agricole to “Outperform” on Thursday, December 10. On Wednesday, April 6 the stock rating was downgraded by DA Davidson to “Neutral”. On Monday, August 17 the stock rating was maintained by Argus Research with “Buy”. The firm has “Buy” rating given on Friday, August 12 by Citigroup. Citigroup maintained it with “Buy” rating and $32 target price in Friday, August 19 report. The firm has “Sell” rating by Zacks given on Thursday, August 13. CLSA upgraded the stock to “Buy” rating in Friday, September 25 report. As per Tuesday, December 15, the company rating was initiated by Morgan Stanley. Citigroup downgraded the shares of AMAT in a report on Friday, October 23 to “Neutral” rating.

According to Zacks Investment Research, “Applied Materials develops, manufactures, markets and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. Customers for these products include semiconductor wafer manufacturers and semiconductor integrated circuit manufacturers, who either use the Ics they manufacture in their own products or sell them to other companies. These ICs are the key components in most advanced electronic products such as computers, telecommunications devices, automotive engine management systems and electronic games.”

Insitutional Activity: The institutional sentiment increased to 1.17 in Q2 2016. Its up 0.13, from 1.04 in 2016Q1. The ratio increased, as 47 funds sold all Applied Materials, Inc. shares owned while 232 reduced positions. 88 funds bought stakes while 202 increased positions. They now own 848.54 million shares or 6.77% less from 910.17 million shares in 2016Q1.
Old Mutual Customised Solutions (Proprietary) Limited, a South Africa-based fund reported 25,400 shares. Credit Suisse Ag holds 0.09% or 3.44M shares in its portfolio. Moreover, Products Prtnrs Ltd Llc has 0.59% invested in Applied Materials, Inc. (NASDAQ:AMAT) for 309,900 shares. Meiji Yasuda Asset Management Limited reported 10,727 shares or 0.04% of all its holdings. Dimensional Fund Advsr Limited Partnership last reported 2.46 million shares in the company. Menta Capital Ltd has invested 0.05% of its portfolio in Applied Materials, Inc. (NASDAQ:AMAT). Capstone Asset Com holds 0.08% or 110,740 shares in its portfolio. Arizona State Retirement last reported 0.09% of its portfolio in the stock. Los Angeles Mgmt Equity Research owns 156,258 shares or 0.03% of their US portfolio. Qs Invsts Ltd Liability Company, a New York-based fund reported 33,983 shares. Adage Cap Gp Limited Liability Corp holds 2.99M shares or 0.2% of its portfolio. Cibc Ww Markets Corporation holds 0.05% of its portfolio in Applied Materials, Inc. (NASDAQ:AMAT) for 73,376 shares. Bluecrest Cap Limited, a Guernsey-based fund reported 98,944 shares. Janus Capital Lc holds 0.02% of its portfolio in Applied Materials, Inc. (NASDAQ:AMAT) for 1.11M shares. The Connecticut-based Gilman Hill Asset Mngmt Ltd has invested 0.17% in Applied Materials, Inc. (NASDAQ:AMAT).

Insider Transactions: Since May 23, 2016, the stock had 0 insider purchases, and 7 selling transactions for $12.21 million net activity. $3.00M worth of Applied Materials, Inc. (NASDAQ:AMAT) shares were sold by Nalamasu Omkaram. $974,800 worth of Applied Materials, Inc. (NASDAQ:AMAT) was sold by Salehpour Ali on Friday, June 3. 15,000 Applied Materials, Inc. (NASDAQ:AMAT) shares with value of $355,050 were sold by Iannotti Thomas J. Another trade for 5,000 shares valued at $150,000 was sold by Forrest Stephen R. On Friday, October 7 the insider DICKERSON GARY E sold $6.83M.

More notable recent Applied Materials, Inc. (NASDAQ:AMAT) news were published by: Bloomberg.com which released: “Applied Materials Orders Cause Concern Demand Has Topped Out” on November 17, 2016, also Fortune.com with their article: “Applied Materials Shares Slide 6% On Lower-Than-Expected Sales” published on November 17, 2016, Nasdaq.com published: “Applied Materials (AMAT) Q4 Earnings: Surprise in Store?” on November 15, 2016. More interesting news about Applied Materials, Inc. (NASDAQ:AMAT) were released by: Nasdaq.com and their article: “Earnings Reaction History: Applied Materials, Inc., 66.7% Follow-Through …” published on November 17, 2016 as well as Globenewswire.com‘s news article titled: “Applied Materials Selected by BOE to Accelerate Production of Large LCD TVs” with publication date: November 16, 2016.

AMAT Company Profile

Applied Materials, Inc. (Applied), incorporated on March 18, 1987, provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Firm operates in four divisions: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions. The Company’s manufacturing activities consist of assembly, test and integration of various commercial parts, components and subassemblies that are used to manufacture systems. The Firm caters to customers, including manufacturers of semiconductor chips, liquid crystal and other displays, solar PV cells, and other electronic devices. It has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries, including Germany, Israel, Italy, Singapore, Taiwan, the United States and other countries in Asia.

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