Applied Materials (AMAT) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 26

Applied Materials (AMAT) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $24 . RBC Capital Mkts advised their investors in a research report released on Jun 10, 2016.

Many Wall Street Analysts have commented on Applied Materials. Applied Materials was Upgraded by Citigroup to ” Buy” on May 25, 2016. Company shares were Reiterated by Cowen on May 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $24 .Company shares were Reiterated by RBC Capital Mkts on May 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .

On the company’s financial health, Applied Materials reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 19, 2016. Analyst had a consensus of $0.32. The company had revenue of $2450.00 million for the quarter, compared to analysts expectations of $2428.97 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Applied Materials opened for trading at $24.03 and hit $24.46 on the upside on Thursday, eventually ending the session at $24.42, with a gain of 0.78% or 0.19 points. The heightened volatility saw the trading volume jump to 1,19,20,923 shares. Company has a market cap of $26,597 M.

In a different news, on Jun 6, 2016, Ali Salehpour (Sr. VP, GM New Mrkts & Service) sold 40,000 shares at $24.37 per share price. According to the SEC, on May 27, 2016, Thomas J Iannotti (director) sold 15,000 shares at $23.67 per share price. On May 25, 2016, Stephen R Forrest (director) sold 5,000 shares at $22.86 per share price, according to the Form-4 filing with the securities and exchange commission.

Applied Materials Inc. (Applied) provides manufacturing equipment services and software to the global semiconductor flat panel display solar photovoltaic (PV) and related industries. Applied operates in four segments: Silicon Systems Group Applied Global Services Display and Energy and Environmental Solutions. The Silicon Systems Group segment develops manufactures and sells manufacturing equipment used to fabricate semiconductor chips. The Applied Global Services segment encompasses services products and integrated solutions to optimize equipment and fab performance and productivity. The Display Segment includes products for manufacturing liquid crystal displays organic light-emitting diodes and other display technologies for televisions personal computers tablets smartphones and other devices. The Energy and Environmental Solutions segment includes systems for manufacturing wafer-based crystalline silicon cells and modules.

Applied Materials

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