NEW YORK (

TheStreet

) -TheStreet Ratings' stock model upgraded

Applied Materials

(AMAT) - Get Report

to 'Buy' from 'Hold'. Net income at this $16.5 billion market cap, semiconductor equipment company tripled rising 240% to $468 million in fiscal fourth quarter over the same quarter last year.

TheStreet Ratings released rating changes on 16 U.S. common stocks for November 17, 2010. In total, eight stocks were downgraded and eight stocks have been upgraded by our stock model.

In the third quarter, gross revenue at Applied Materials rose by 89.1% to $2.9 billion in the fiscal fourth quarter when compared to the same quarter last year. Learn more about Applied Materials:

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$1.0 billion market cap, electronics miniaturization company,

Tessera Technologies

(TSRA)

was upgraded to 'Buy' from 'Hold'. In third quarter results, Tessera Technologies gross revenue increased by 24.2% to $82.1 million while the company's bottom line improved by 56.8% to a profit of $19.0 million compared the year earlier quarter. Learn more about Tessera Technologies:

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-- Reported by Kevin Baker in Jupiter, Fla.

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Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.