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Semiconductor components maker Applied Materials, Inc. ( AMAT ) on Tuesday caught s big upgrade form analysts at Goldman Sachs.

The firm boosted its rating on AMAT from "Neutral" to "Buy" while lifting its price target from $11.50 to $13.00. That new target suggests a 15% upside to the stock's Monday closing price of $11.28.

Goldman Sachs noted the company's newly-named President Gary Dickerson is "a significant positive for the company and likely marked the end of the multi-year underperformance in Applied Materials' stock." Continuing, "We estimate that if the company restructures more significantly in areas such as display and exits the solar business, that this could add $0.15 or more to full-cycle EPS."

Applied Materials shares rose 25 cents, or +2.2%, in premarket trading Tuesday.

The Bottom Line
Shares of Applied Materials ( AMAT ) have a 3.19% dividend yield, based on last night's closing stock price of $11.28. The stock has technical support in the $10 price area. If the shares can firm up, we see overhead resistance around the $12-$13 price levels.

Applied Materials, Inc. ( AMAT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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