Applied Materials (NASDAQ:AMAT) Given New $230.00 Price Target at TD Cowen

Applied Materials (NASDAQ:AMAT) had its price objective decreased by TD Cowen from $250.00 to $230.00 in a research note issued to investors on Friday, MarketBeat.com reports. TD Cowen currently has a buy rating on the manufacturing equipment provider’s stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company cut their price target on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Citigroup cut their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday. Mizuho lowered their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Trading Down 9.2 %

Shares of AMAT stock traded down $17.12 during trading hours on Friday, hitting $168.88. 16,287,484 shares of the company were exchanged, compared to its average volume of 6,137,177. The company has a 50 day simple moving average of $190.88 and a two-hundred day simple moving average of $206.73. The firm has a market cap of $139.22 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.24 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials has a fifty-two week low of $141.94 and a fifty-two week high of $255.89.

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, topping analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion during 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 quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $1.90 earnings per share. Equities analysts anticipate that Applied Materials will post 8.51 EPS 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 17.98%.

Institutional Trading of Applied Materials

A number of large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in shares of Applied Materials during the 2nd quarter valued at approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials in the second quarter valued at approximately $28,000. Clean Yield Group bought a new position in Applied Materials during the third quarter valued at $33,000. First PREMIER Bank increased its position in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Applied Materials in the first quarter valued at $35,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.