Keybanc Rates Applied Materials (AMAT) buy, $750 Price Target

Keybanc analyst Steve Barger maintains a buy rating and $750 price target on Applied Materials, joining a crowded field of Wall Street opinions, a 7.24% upside from the current price.

By TradeTexts Research Desk · Published Jun 29, 2026, 9:01 AM EDT · Updated Jul 1, 2026, 9:01 AM EDT

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Keybanc rated Applied Materials, Inc. ($AMAT) "buy" with a $750 price target on June 29, 2026.

Since the rating, $AMAT is down 14.7% after 1 week, down 37.2% after 1 month and down 41.0% to date (from the $693.90 close on Jun 29, 2026).

AMAT Applied Materials, Inc.

$409.29 +52.77% year to date

Daily close · Oct 16, 2026

Key Points

Keybanc analyst Steve Barger reaffirmed a buy rating and a $750 price target on Applied Materials, Inc. (NasdaqGS: AMAT) on June 29, 2026.
Keybanc's $750 price target implies 7.24% upside from Applied Materials, Inc.'s ($AMAT) current $699.39 share price.
Shares trade near $699.39, backed by a forward P/E ratio of 25.2 and strong overall market interest from institutional players.
Other major Wall Street firms, including Needham, Evercore ISI Group, and RBC Capital, have recently issued updated views and price targets on the equity.

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Keybanc Reaffirms Outlook on Applied Materials Stock

Keybanc analyst Steve Barger reaffirmed a buy rating on Applied Materials, Inc. (NasdaqGS: AMAT) on June 29, 2026, setting a $750 price target for the semiconductor equipment maker. The call places a high-water mark on valuation compared to several peers across the financial sector who have adjusted their expectations in recent months.

Analyst rating track record

Keybanc vs. the S&P 500

YTD return +46.02% hypothetical

All-time return +73.06% S&P 500 +28.94%

vs. S&P 500 +44.12% ahead of the index

Hypothetical returns from Keybanc's disclosed trades, not real profit or advice. How we model this.

12-month forecast

$AMAT price target

Applied Materials, Inc. daily closes and this analyst's $750 target. Not advice.

Wall Street Analyst Views and Price Targets

Analyst coverage on Applied Materials remains active as firms weigh the company's prospects in chip manufacturing technology. On October 16, 2026, Needham maintained its Buy rating while adjusting its price target to $580.0 from a prior $740.0. A day earlier on October 15, 2026, Evercore ISI Group kept an Outperform rating with a $590.0 target, down from $700.0. RBC Capital maintained an Outperform rating with a $600.0 target on October 14, 2026, while Morgan Stanley kept an Equal-Weight rating and a $563.0 target on September 28, 2026. Earlier in the autumn, UBS maintained a Buy rating with a $695.0 target on September 1, 2026, following an August 14 update where it set a $675.0 target. Mizuho maintained an Outperform rating with a $590.0 target on August 25, 2026, and Argus Research kept a Buy rating with a $600.0 target on August 18, 2026.

Applied Materials Stock Performance and Valuation

The equity recently changed hands around $699.39, moving within a 52-week range of $196.20 to $739.67. The company's valuation metrics include a trailing price-to-earnings ratio of 40.0 and a forward P/E ratio of 25.2. Market participants continue to watch the share price relative to its short-term and long-term averages as the broader technology sector navigates shifting demand cycles for chip-making gear.

Business Operations and Market Position

Headquartered in Santa Clara, California, Applied Materials provides specialized equipment, services, and software used to manufacture semiconductor chips. The firm operates through major divisions focused on semiconductor systems and global services, supplying gear for etch, deposition, and wafer inspection to top electronics producers worldwide.

Looking Ahead to Upcoming Reports

Market participants will look toward the company's next earnings report scheduled for November 12, 2026, to gauge whether revenue growth and profit margins are keeping pace with analyst expectations. Additional regulatory disclosures and institutional portfolio updates will provide further clarity on how large funds are managing their stakes in the tech leader.