Evercore ISI Cuts Applied Materials (NASDAQ:AMAT) Price Target to $250.00

Applied Materials (NASDAQ:AMAT) had its price target decreased by equities researchers at Evercore ISI from $260.00 to $250.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Evercore ISI’s target price indicates a potential upside of 34.41% from the stock’s previous close.

Several other research firms have also weighed in on AMAT. Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC cut their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Susquehanna cut their target price on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday. Citigroup dropped their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Trading Up 1.8 %

AMAT opened at $186.00 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials has a twelve month low of $141.94 and a twelve month high of $255.89. The stock has a market capitalization of $153.34 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.24 and a beta of 1.56. The company has a 50-day simple moving average of $190.88 and a 200 day simple moving average of $207.13.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Applied Materials will post 8.51 EPS for the current fiscal year.

Institutional Trading of Applied Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of Applied Materials in the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials in the 2nd quarter valued at approximately $28,000. PSI Advisors LLC grew its holdings in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares during the period. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter valued at about $33,000. Finally, First PREMIER Bank lifted its stake in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. Institutional investors own 80.56% of the company’s stock.

About Applied Materials

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.