B of A Securities Rates Applied Materials (AMAT) buy
B of A Securities has reaffirmed its Buy rating on Applied Materials, Inc. and set a price target of $720.00 as of June 23, 2026, a 22.25% upside from the current price.
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B of A Securities rated Applied Materials, Inc. ($AMAT) "buy" with a $720 price target on June 23, 2026.
Since the rating, $AMAT is up 23.4% after 1 week, down 3.9% after 1 month and down 30.1% to date (from the $585.25 close on Jun 23, 2026).
AMAT
Applied Materials, Inc.
Key Points
- B of A Securities reiterated its Buy rating on Applied Materials (AMAT) with a price target of $720.00 on June 23, 2026.
- B of A Securities's $720 price target implies 22.25% upside from Applied Materials, Inc.'s ($AMAT) current $588.97 share price.
- Shares of Applied Materials were trading at $588.97, up from a previous close of $444.57, reflecting recent positive momentum.
- Analysts have mixed views, with a consensus rating of Strong Buy and a mean price target of approximately $640.89.
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B of A Securities has reiterated its Buy rating on Applied Materials, Inc. (AMAT) with a target price of $720.00 as of June 23, 2026. Analyst Vivek Arya emphasized that this rating remains a strong endorsement of the stock's potential.
B of A Securities vs. the S&P 500
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Other Institutional Activity in Applied Materials
Several other significant investors have held or adjusted their stakes in Applied Materials recently. Blackrock Inc. grew its holdings by 1,239,871 shares, bringing its total to 80,212,518 shares valued at about $33.2 billion. State Street Corporation also increased its position, adding 731,418 shares for a total of 38,240,019 shares worth approximately $15.9 billion. Invesco Ltd. saw a major rise, with a boost of 1,900,912 shares, ending with 28,265,844 shares valued at around $11.7 billion. Meanwhile, Capital Research Global Investors trimmed its stake, reducing holdings by 7,296,037 shares.
Applied Materials, Inc. Stock Up 37.0%
Applied Materials shares are currently trading at $588.97, significantly higher than the previous close of $444.57. The stock is still below its 52-week high of $739.67 but shows strong growth from its recent low of $196.20, indicating positive momentum in the semiconductor equipment sector.
$AMAT price target
Applied Materials, Inc. daily closes and this analyst's $720 target. Not advice.
Recent Earnings
For its latest earnings report, Applied Materials achieved revenues of approximately $30.8 billion, with a revenue growth of about 24.8%. The earnings per share (EPS) stood at $11.60, translating to a net margin of roughly 30.05% and a return on equity (ROE) of 41.07%. The company's next earnings report is expected on November 12, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
20 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 5.9%. Revenue beat estimates by 12.9%.
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Profit surprise
EBITDA beat by 52 percent. Operating income beat by 24 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
20 target raises.
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Earnings quality
Gross margin up 0.8 points. Operating margin up 1.3 points. Positive free cash flow.
Earnings Call Summary
Applied Materials delivered record revenue of $7.91 billion this quarter driven by strong artificial intelligence infrastructure demand. The company sees its highest gross margin in over 25 years at 50 percent. Management highlighted that artificial intelligence is diversifying beyond training into new areas like agentic applications, which increases demand for memory and processors, and they expect continued strong growth into 2027 and beyond as customers build new factories.
Guidance Applied expects about $8.95 billion in revenue next quarter, up nearly 23 percent from last year. The company expects earnings per share of $3.36, up nearly 36 percent. Management raised its full-year equipment growth outlook to more than 30 percent as artificial intelligence demand accelerates and customers add production capacity.
Clearly positive report. Results were better than expected, though the forward reset is not the strongest.
Insider Buying and Selling at Applied Materials, Inc.
Recent insider transactions include several sales. On June 30, 2026, CEO Gary E. Dickerson sold 78,321 shares, valued at around $55.6 million. Other executives, including Officer Adam Sanders and Director Judy Bruner, also sold shares worth approximately $394,807 and $465,000, respectively. These transactions reflect ongoing adjustments among company leadership regarding their stock positions.
Analysts Set New Price Targets
On October 16, 2026, Needham maintained a Buy rating with a target price of $580.00, down from $740.00. Meanwhile, Evercore ISI Group kept its Outperform rating but lowered its target to $590.00 from $700.00. RBC Capital reiterated an Outperform rating with a target of $600.00. Overall, analysts maintain a consensus rating of Strong Buy with a mean target price of about $640.89 based on 35 opinions.
About Applied Materials
Applied Materials, Inc. is a leading provider of materials engineering solutions and equipment for the semiconductor industry. The company's services support manufacturing processes in various regions worldwide, including the U.S. and Asia. This consistent demand positions Applied Materials favorably, especially as semiconductor technology advances.
Bottom Line
As Applied Materials prepares for its next earnings report on November 12, 2026, analysts are closely watching its performance amid shifting market conditions. The recent reaffirmation of B of A's Buy rating alongside mixed reviews from other firms presents a complex picture for investors. The latest transactions from insiders also add a layer of interest as they navigate their stakes in the company.
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Source: B of A Securities's rating change on $AMAT (Jun 23, 2026). Written by software, not financial advice. How we make alerts