Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Applied Materials (NASDAQ:AMAT) on Thursday, setting a price target of $130, which is approximately 12.35% above the present share price of $115.71.
Rakesh expects Applied Materials to post earnings per share (EPS) of $1.24 for the first quarter of 2021.
The current consensus among 20 TipRanks analysts is for a Strong Buy rating of shares in Applied Materials, with an average price target of $118.74.
The analysts price targets range from a high of $140 to a low of $95.
In its latest earnings report, released on 10/31/2020, the company reported a quarterly revenue of $4.69 billion and a net profit of $1.28 billion. The company's market cap is $106.18 billion.
According to TipRanks.com, Mizuho Securities analyst Vijay Rakesh is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 29.2% and a 71.50% success rate.
Applied Materials, Inc. engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging. The Applied Global Services segment provides solutions to optimize equipment, performance, and productivity. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays, organic light-emitting diodes; coating systems and display technologies for television; personal computers, tablets, smart phones, and consumer-oriented devices. The company was founded on November 10, 1967 and is headquartered in Santa Clara, CA.