Fintel reports that on September 15, 2023, Wolfe Research initiated coverage of Applied Materials (NASDAQ:AMAT) with a Outperform recommendation.
Analyst Price Forecast Suggests 8.28% Upside
As of August 31, 2023, the average one-year price target for Applied Materials is 156.53. The forecasts range from a low of 87.87 to a high of $183.75. The average price target represents an increase of 8.28% from its latest reported closing price of 144.57.
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The projected annual revenue for Applied Materials is 24,715MM, a decrease of 6.89%. The projected annual non-GAAP EPS is 6.84.
What is the Fund Sentiment?
There are 2986 funds or institutions reporting positions in Applied Materials. This is an increase of 37 owner(s) or 1.25% in the last quarter. Average portfolio weight of all funds dedicated to AMAT is 0.58%, an increase of 6.55%. Total shares owned by institutions decreased in the last three months by 1.26% to 758,353K shares. 
The put/call ratio of AMAT is 1.46, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 36,698K shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 32,833K shares, representing an increase of 10.53%. The firm increased its portfolio allocation in AMAT by 22.39% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 26,358K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 26,164K shares, representing an increase of 0.73%. The firm increased its portfolio allocation in AMAT by 9.37% over the last quarter.
Capital International Investors holds 20,883K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 20,722K shares, representing an increase of 0.77%. The firm increased its portfolio allocation in AMAT by 11.22% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 20,122K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 19,673K shares, representing an increase of 2.23%. The firm increased its portfolio allocation in AMAT by 9.01% over the last quarter.
Geode Capital Management holds 16,991K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 15,871K shares, representing an increase of 6.59%. The firm increased its portfolio allocation in AMAT by 13.96% over the last quarter.
Applied Materials Background Information
(This description is provided by the company.)
Applied Materials, Inc. is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Its expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
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This story originally appeared on Fintel.
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