Company Update (NASDAQ:AMAT): Applied Materials (AMAT) Stock Price Target Increased at Pacific Crest

[at TheStreet] – Applied Materials (AMAT) stock is rallying after strong quarterly results which led Pacific Crest analysts to raise their price target. Read more on this. Applied Materials, Inc. (AMAT) , with a current market cap of $25.40B, opened this morning at $21.73. Looking at today’s market, AMAT one day range is $21.70 to $22.77 with the price of the stock fluctuating between $14.25 to $22.77 over the last 52 weeks. Priced at 14.97x this year’s forecasted earnings, AMAT shares are relatively inexpensive compared to the industry’s 22.19x forward p/e ratio. The company pays shareholders $0.40 per share annually in dividends, yielding 2.02%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $0.37 per share, which would be $0.04 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $1.33, which would be a $0.14 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.53 Billion. If realized, that would be a 1.61% increase over the year-ago quarter. Recently, Susquehanna downgraded AMAT from Neutral to Negative (Apr 19, 2016). Previously, UBS upgraded AMAT from Neutral to Buy. The average price target for AMAT shares is $23.35, which is 7.46% above where the stock opened this morning. See more in (NASDAQ:AMAT) Similar Articles: Market Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials Surge on Earnings Beat, Guidance (AMAT) Company Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials (AMAT) Stock Soars on Earnings Beat, Jim Cramer’s View Stock Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials (AMAT) Stock Lower Ahead of Today’s Earnings Report