Applied Materials (NASDAQ:AMAT) “Buy” Rating at Goldman Sachs from “Neutral”

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Goldman Sachs Analyst Rating Change Applied Materials NASDAQ:AMAT

Applied Materials (NASDAQ:AMAT) Rating Improved

Applied Materials (NASDAQ:AMAT)’s stock was boosted to “Buy” by investment analysts at Goldman Sachs. AMAT’s “Neutral” rating is no longer valid.

The company’s rating upgrade is welcomed by investors, as NASDAQ:AMAT is at the moment trading 1.41% higher at $46.29 as of 2:05 AM New York time. Applied Materials’s stock is 0% in the past 200 days. It has underperformed the S&P500, which has risen 6.00% in the same time period.

Out of 21 brokers covering Applied Materials, 20 rate it a Buy, 2 indicate a Hold while 1 suggest a Sell. The highest target is $31 and the lowest is $17 according to Thomson/First Call. The 12-month mean target is $26.64, which means downside potential of 42.45% over the current price.

Institutional Ownership

Praesidium Investment Management Company Llc had the biggest stake with ownership of 3.53M shares as of Q2 2015 for 9.01% of the fund’s portfolio. Sensato Investors Llc is another quite bullish institutional investor who is owning 922,645 shares of Applied Materials or 5.91% of their fund’s portfolio. Also, Magee Thomson Investment Partners Llc have 5.2% of their fund’s portfolio invested in the company for 522,300 shares. The Texas-based fund Kempner Capital Management Inc. disclosed it had acquired so far a stake worth about 4.94% of the institutional investor’s stock portfolio in Applied Materials. The New York-based fund Harvey Partners Llc is also positive about the stock, possessing 237,790 shares or 4.88% of their fund’s portfolio.

Applied Materials (NASDAQ: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 (NASDAQ:AMAT) traded up 1.41% on 13 September, hitting $46.29. A total of 2.25M shares of the company’s stock traded hands. This is down from average of 9.53M shares. Applied Materials has a 52 week low of $27.56 and a 52 week high of $47.86. The company has a market cap of $49.37B and a P/E ratio of 16.45.

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