Applied Materials (NASDAQ:AMAT) PT Lowered to $185.00

Applied Materials (NASDAQ:AMAT) had its price objective cut by stock analysts at Morgan Stanley from $224.00 to $185.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the manufacturing equipment provider’s stock. Morgan Stanley’s target price indicates a potential downside of 1.38% from the company’s current price.

A number of other analysts have also commented on the company. Stifel Nicolaus reduced their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Applied Materials in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $232.00.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $187.58 on Tuesday. The stock has a market cap of $155.31 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials has a 1 year low of $129.21 and a 1 year high of $255.89. The firm’s 50-day moving average is $202.90 and its 200 day moving average is $210.70.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 earnings per share. Sell-side analysts anticipate that Applied Materials will post 8.49 EPS for the current fiscal year.

Insider Transactions at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction on Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the transaction, the director now owns 49,185 shares in the company, valued at approximately $11,639,630.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC purchased a new position in shares of Applied Materials in the first quarter worth $26,000. Summit Securities Group LLC bought a new position in shares of Applied Materials during the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials during the second quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC bought a new stake in Applied Materials in the 1st quarter worth approximately $35,000. Finally, RFP Financial Group LLC grew its holdings in shares of Applied Materials by 96.6% in the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.