Applied Materials (NASDAQ:AMAT) Price Target Lowered to $225.00 at Mizuho

Applied Materials (NASDAQ:AMAT) had its target price cut by stock analysts at Mizuho from $245.00 to $225.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Mizuho’s price target would suggest a potential upside of 17.09% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. Wells Fargo & Company increased their price objective on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. B. Riley decreased their target price 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. Dbs Bank downgraded Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Citigroup decreased their price objective on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.05.

Applied Materials Stock Down 2.3 %

AMAT stock opened at $192.16 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 52 week low of $129.21 and a 52 week high of $255.89. The stock has a market capitalization of $159.10 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. The firm has a 50 day moving average of $198.35 and a 200 day moving average of $210.18.

Applied Materials (NASDAQ:AMAT) last posted 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. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Sell-side analysts forecast that Applied Materials will post 8.49 earnings per share for the current year.

Institutional Investors Weigh In On Applied Materials

Several large investors have recently bought and sold shares of AMAT. JT Stratford LLC increased its position in shares of Applied Materials by 0.4% during the first quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock worth $2,246,000 after purchasing an additional 48 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in Applied Materials by 5.6% during the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock worth $191,000 after purchasing an additional 49 shares during the last quarter. WASHINGTON TRUST Co grew its holdings in shares of Applied Materials by 3.3% during the second quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock worth $367,000 after buying an additional 49 shares in the last quarter. Optimum Investment Advisors raised its position in shares of Applied Materials by 1.3% in the second quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after buying an additional 50 shares during the last quarter. Finally, SlateStone Wealth LLC lifted its stake in shares of Applied Materials by 4.7% in the second quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after buying an additional 50 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.