Analysts are Upgrading These 5 Tech Stocks

4. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Holders: 67

Summit Insights improved its ratings for Applied Materials, Inc. (NASDAQ:AMAT) from “Hold” to “Buy” last week. The upgrade came a day after the California-based company surpassed financial expectations for its fiscal fourth quarter.

Applied Materials, Inc. (NASDAQ:AMAT) earned $2.03 per share on an adjusted basis, crushing expectations of $1.74 per share. The quarterly revenue of $6.75 billion also exceeded the consensus of $6.45 billion.

For the current quarter, Applied Materials, Inc. (NASDAQ:AMAT) projected revenue of about $6.70 billion, above analysts’ average estimate of $6.45 billion.

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