Applied Materials Inc (NDAQ:AMAT) Rating Outlook Upped to Buy by Analysts at Goldman Sachs from Neutral

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Goldman Sachs Analyst Rating Change Applied Materials Inc. NDAQ:AMAT

Applied Materials Inc (NDAQ:AMAT) Upgrade

Applied Materials Inc (NDAQ:AMAT) was upgraded by Goldman Sachs from Neutral rating to Buy rating in a research note issued to investors and clients on Wednesday, 13 September.

This stock rating upgrade is well received by equity trades, as NDAQ:AMAT is at the moment trading 1.03% higher at $46.12 as of 8:01 AM New York time. Applied Materials Inc. shares have [From2] 0% over the past 200 days, while the Standard & Poor’s 500 index has surged 6.00% during the same time.

According to data compiled by Thomson Reuters, Applied Materials Inc (NDAQ:AMAT)’s stock is covered by 21 equity analysts across the Street, with 1 analysts giving it a Sell rating, 20 a Buy rating, while 2 consider it a Hold. The 12-month consensus target price for the stock is $26.64, which reflects an downside potential of 42.24% over the current price.

AMAT Stock Chart

Institutional Ownership

Praesidium Investment Management Company Llc had the biggest stake with ownership of 3.53 million shares as of q2 2015 for 9.01% of the US long stock exposure. Sensato Investors Llc is another notably bullish fund who is having 922,645 shares of Applied Materials Inc. or 5.91% of their US long stock exposure. Also, Magee Thomson Investment Partners Llc have 5.2% of their US long stock exposure invested in the company for 522,300 shares. The Texas-based fund Kempner Capital Management Inc. disclosed it had purchased a stake worth about 4.94% of the fund’s stock portfolio in Applied Materials Inc.. The New York-based fund Harvey Partners Llc is also positive about the stock, possessing 237,790 shares or 4.88% of their US long stock exposure.

Applied Materials Inc (NDAQ:AMAT) Profile

Applied Materials IncApplied Materials, Inc. provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

Applied Materials Inc (NDAQ:AMAT) traded up 1.03% on 13 September, hitting $46.12. A total of 7.49M shares of the company’s stock traded hands. This is down from average of 9.53M shares. Applied Materials Inc. has a 52 week low of $27.56 and a 52 week high of $47.86. The company has a market cap of $49.19B and a P/E ratio of 16.38.

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