Mizuho Securities Reaffirms Their Buy Rating on Applied Materials (AMAT)

Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Applied Materials (AMATResearch Report) today and set a price target of $115.00. The company’s shares closed yesterday at $104.45.

Rakesh covers the Technology sector, focusing on stocks such as Nvidia, Advanced Micro Devices, and Micron. According to TipRanks, Rakesh has an average return of 17.8% and a 56.33% success rate on recommended stocks.

In addition to Mizuho Securities, Applied Materials also received a Buy from Summit Redstone Partners’s Kinngai Chan in a report issued today. However, on the same day, Susquehanna reiterated a Hold rating on Applied Materials (NASDAQ: AMAT).

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Based on Applied Materials’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $6.52 billion and a net profit of $1.61 billion. In comparison, last year the company earned a revenue of $6.2 billion and had a net profit of $1.72 billion

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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.

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