Applied Materials (NASDAQ:AMAT) Price Target Lowered to $210.00 at Bank of America

Applied Materials (NASDAQ:AMAT) had its price objective trimmed by Bank of America from $220.00 to $210.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the manufacturing equipment provider’s stock.

A number of other brokerages have also weighed in on AMAT. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Morgan Stanley cut their price objective on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $219.81.

Applied Materials Price Performance

Shares of AMAT traded down $17.12 during trading hours on Friday, reaching $168.88. 16,287,484 shares of the stock traded hands, compared to its average volume of 6,137,177. The company has a market cap of $139.22 billion, a P/E ratio of 18.98, 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. The company’s 50-day moving average price is $190.88 and its two-hundred day moving average price is $206.73. Applied Materials has a 52-week low of $141.94 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.90 EPS. On average, analysts anticipate that Applied Materials will post 8.51 earnings per share for the current 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. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 17.98%.

Institutional Investors Weigh In On Applied Materials

Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its holdings in shares of Applied Materials by 29.8% in the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after buying an additional 1,509,439 shares during the period. WoodTrust Financial Corp lifted its position in shares of Applied Materials by 47.0% in the 3rd quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock worth $13,722,000 after purchasing an additional 21,699 shares during the period. Victory Capital Management Inc. raised its stake in Applied Materials by 1.4% in the third quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock worth $230,158,000 after buying an additional 15,183 shares in the last quarter. Stiles Financial Services Inc increased its holdings in shares of Applied Materials by 252.0% in the 3rd quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock valued at $957,000 after acquiring an additional 3,389 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Applied Materials by 89.3% during the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock worth $2,121,000 after purchasing an additional 4,239 shares during 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.