Wells Fargo (NYSE:WFC) analyst Joseph Quatrochi maintained a Buy rating on Applied Materials (NASDAQ:AMAT) on Friday, setting a price target of $160, which is approximately 23.17% above the present share price of $129.9.
Quatrochi expects Applied Materials to post earnings per share (EPS) of $1.45 for the third quarter of 2021.
The current consensus among 9 TipRanks analysts is for a Strong Buy rating of shares in Applied Materials, with an average price target of $158.89.
The analysts price targets range from a high of $175 to a low of $139.
In its latest earnings report, released on 04/30/2021, the company reported a quarterly revenue of $5.58 billion and a net profit of $1.74 billion. The company's market cap is $118.73 billion.
According to TipRanks.com, Wells Fargo analyst Joseph Quatrochi is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 72.5% and a 94.12% success rate.
Founded in 1967, Applied Materials, Inc. is a California-based company which provides manufacturing equipment, services, and software solutions to the semiconductor, display, and related industries to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets.