Applied Materials (AMAT – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Atif Malik from Citi maintained a Buy rating on the stock and has a $170.00 price target.
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Atif Malik has given his Buy rating due to a combination of factors related to Applied Materials’ strategic positioning and market dynamics. The company is expected to report earnings that align with market expectations, despite facing challenges in the first half of the year due to a less favorable mix in DRAM, ICAPS, and Advanced Packaging. However, these challenges are partially offset by strengths in leading-edge technologies, which are anticipated to improve in the second half of the year.
Furthermore, Malik highlights investor interest in several key areas, including the impact of retaliatory tariffs on equipment sales and services, the updated spending outlook for the end market, and the company’s strategic investments in packaging technologies. These elements suggest a positive long-term outlook, supporting Malik’s Buy rating as the company navigates through its current market phase.
In another report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $195.00 price target.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMAT in relation to earlier this year.