Exclusive: What’s Propelling Applied Materials, Inc. to Increase So Much?

Exclusive: What's Propelling Applied Materials, Inc. to Increase So Much?

The stock of Applied Materials, Inc. (NASDAQ:AMAT) is a huge mover today! About 3.37M shares traded hands. Applied Materials, Inc. (NASDAQ:AMAT) has risen 34.57% since April 11, 2016 and is uptrending. It has outperformed by 28.43% the S&P500.
The move comes after 6 months positive chart setup for the $29.68 billion company. It was reported on Nov, 11 by Barchart.com. We have $36.06 PT which if reached, will make NASDAQ:AMAT worth $8.01B more.

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. Applied Materials Inc. has been the topic of 65 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, August 11 by Pacific Crest. As per Friday, February 19, the company rating was maintained by B. Riley & Co. B. Riley & Co maintained the shares of AMAT in a report on Monday, November 9 with “Neutral” rating. The stock of Applied Materials, Inc. (NASDAQ:AMAT) has “Buy” rating given on Friday, February 19 by Deutsche Bank. UBS maintained Applied Materials, Inc. (NASDAQ:AMAT) rating on Friday, May 20. UBS has “Buy” rating and $28.50 price target. Cowen & Co maintained it with “Outperform” rating and $21.50 target price in Wednesday, November 11 report. The stock of Applied Materials, Inc. (NASDAQ:AMAT) earned “Buy” rating by DA Davidson on Monday, June 27. The stock of Applied Materials, Inc. (NASDAQ:AMAT) earned “Outperform” rating by Cowen & Co on Friday, August 14. CLSA upgraded the shares of AMAT in a report on Tuesday, January 19 to “Buy” rating. RBC Capital Markets maintained the shares of AMAT in a report on Friday, June 10 with “Sector Perform” 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 1.04 in Q2 2016. Its up 0.04, from 1 in 2016Q1. The ratio improved, 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.
Airain Limited owns 342,524 shares or 0.47% of their US portfolio. Origin Asset Mngmt Ltd Liability Partnership last reported 0.87% of its portfolio in the stock. The California-based Wespac Advsr Ltd Liability has invested 0.63% in Applied Materials, Inc. (NASDAQ:AMAT). Jpmorgan Chase & reported 5.55M shares or 0.03% of all its holdings. Spirit Of America Mgmt Corp Ny holds 17,800 shares or 0.06% of its portfolio. Twin Mgmt last reported 111,408 shares in the company. The Virginia-based Flippin Bruce & Porter Inc has invested 0.58% in Applied Materials, Inc. (NASDAQ:AMAT). Strs Ohio holds 671,122 shares or 0.07% of its portfolio. Ig Inv Mngmt holds 330,264 shares or 0.03% of its portfolio. Wesbanco Natl Bank Incorporated, a West Virginia-based fund reported 38,990 shares. The New York-based Sg Americas Lc has invested 0.02% in Applied Materials, Inc. (NASDAQ:AMAT). The Pennsylvania-based Tfs Ltd Llc has invested 0.07% in Applied Materials, Inc. (NASDAQ:AMAT). The Ohio-based Carnegie Asset Management Limited has invested 0.1% in Applied Materials, Inc. (NASDAQ:AMAT). Raymond James Trust Na last reported 165,371 shares in the company. Cibc World has 73,376 shares for 0.05% of their US portfolio.

Insider Transactions: Since May 23, 2016, the stock had 0 buys, and 7 insider sales for $12.21 million net activity. $150,000 worth of shares were sold by Forrest Stephen R on Tuesday, August 23. 229,935 Applied Materials, Inc. (NASDAQ:AMAT) shares with value of $6.83M were sold by DICKERSON GARY E. On Wednesday, May 25 the insider Iannotti Thomas J sold $355,050. On Thursday, September 1 the insider Nalamasu Omkaram sold $3.00 million. Shares for $974,800 were sold by Salehpour Ali.

More news for Applied Materials, Inc. (NASDAQ:AMAT) were recently published by: Profitconfidential.com, which released: “Applied Materials, Inc.: This Could Send AMAT Stock Soaring” on October 17, 2016. Forbes.com‘s article titled: “Applied Materials Becomes Oversold (AMAT)” and published on October 13, 2016 is yet another important article.

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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