Applied Materials (NASDAQ:AMAT) Given New $250.00 Price Target at Stifel Nicolaus

Applied Materials (NASDAQ:AMAT) had its price objective decreased by Stifel Nicolaus from $270.00 to $250.00 in a research note released on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the manufacturing equipment provider’s stock.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. Susquehanna reduced their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company dropped their price target on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, B. Riley decreased their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $219.81.

Applied Materials Price Performance

AMAT opened at $168.88 on Tuesday. The stock has a fifty day simple moving average of $191.00 and a two-hundred day simple moving average of $206.98. Applied Materials has a 12-month low of $141.94 and a 12-month high of $255.89. The company has a market cap of $139.22 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33.

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

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Applied Materials’s dividend payout ratio is currently 17.98%.

Institutional Trading of Applied Materials

A number of hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new position in shares of Applied Materials during the second quarter valued at about $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials during the 2nd quarter worth about $28,000. Clean Yield Group bought a new stake in shares of Applied Materials in the 3rd quarter valued at $33,000. First PREMIER Bank lifted its stake in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Applied Materials during the 1st quarter worth approximately $35,000. 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.