For Applied Materials Inc. [AMAT], Analyst sees a rise to $245. What next?

Applied Materials Inc. [NASDAQ: AMAT] plunged by -$2.58 during the normal trading session on while it closed the day at $206.11. The company report on March 28, 2024 at 11:10 AM that Applied Materials Earns Intel’s 2024 EPIC Distinguished Supplier Award.

Applied is one of only 27 Distinguished Award recipients across Intel’s global supply chain.

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Applied Materials Inc. stock has also loss -1.13% of its value over the past 7 days. However, AMAT stock has inclined by 27.17% in the 3 months of the year. Over the past six months meanwhile, it has gained 48.87% and gained 27.17% year-on date.

The market cap for AMAT stock reached $171.26 billion, with 833.00 million shares outstanding and 827.94 million shares in the current float. Compared to the average trading volume of 6.52M shares, AMAT reached a trading volume of 4305074 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Applied Materials Inc. [AMAT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMAT shares is $220.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMAT stock is a recommendation set at 1.85. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for Applied Materials Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 16, 2024. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Neutral. The new note on the price target was released on January 23, 2024, representing the official price target for Applied Materials Inc. stock. Previously, the target price had yet another raise from $165 to $185, while TD Cowen kept a Outperform rating on AMAT stock.

The Average True Range (ATR) for Applied Materials Inc. is set at 5.57, with the Price to Sales ratio for AMAT stock in the period of the last 12 months amounting to 6.48. The Price to Book ratio for the last quarter was 9.83, with the Price to Cash per share for the same quarter was set at 9.02. Price to Free Cash Flow for AMAT in the course of the last twelve months was 22.22 with Quick ratio for the last quarter at 1.91.

AMAT stock trade performance evaluation

Applied Materials Inc. [AMAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.13. With this latest performance, AMAT shares dropped by -1.97% in over the last four-week period, additionally plugging by 48.87% over the last 6 months – not to mention a rise of 68.79% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMAT stock in for the last two-week period is set at 55.58, with the RSI for the last a single of trading hit 52.17, and the three-weeks RSI is set at 57.62 for Applied Materials Inc. [AMAT]. The present Moving Average for the last 50 days of trading for this stock 192.22, while it was recorded at 207.14 for the last single week of trading, and 157.22 for the last 200 days.

Applied Materials Inc. [AMAT]: An insightful look at the core fundamentals

Applied Materials Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.91 and a Current Ratio set at 2.71.

Earnings per share (EPS) analysis for Applied Materials Inc. [AMAT] stock

With the latest financial reports released by the company, Applied Materials Inc. posted 1.78/share EPS, while the average EPS was predicted by analysts to be reported at 1.64/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMAT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Applied Materials Inc. go to 14.97%.

Applied Materials Inc. [AMAT]: Institutional Ownership

The top three institutional holders of AMAT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AMAT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AMAT stock with ownership which is approximately 5.8386%.