Applied Materials (NASDAQ:AMAT) PT Lowered to $140.00

Applied Materials (NASDAQ:AMATGet Rating) had its price target reduced by equities research analysts at B. Riley from $145.00 to $140.00 in a research report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the manufacturing equipment provider’s stock. B. Riley’s price objective would suggest a potential upside of 31.34% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Barclays lowered their target price on shares of Applied Materials from $165.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Wednesday, January 19th. Citigroup upped their target price on Applied Materials from $178.00 to $180.00 in a research report on Thursday, February 17th. Berenberg Bank boosted their price objective on Applied Materials from $160.00 to $205.00 in a report on Tuesday, January 18th. Finally, Susquehanna Bancshares reaffirmed a “hold” rating and set a $160.00 target price on shares of Applied Materials in a report on Monday, February 14th. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $158.54.

Shares of Applied Materials stock traded down $4.15 on Monday, reaching $106.59. The stock had a trading volume of 278,637 shares, compared to its average volume of 7,976,277. Applied Materials has a 1 year low of $102.99 and a 1 year high of $167.06. The company has a 50 day moving average price of $120.15 and a 200 day moving average price of $136.53. The company has a quick ratio of 1.78, a current ratio of 2.51 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $94.16 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.38 and a beta of 1.44.

Applied Materials (NASDAQ:AMATGet Rating) last issued its quarterly earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.05). Applied Materials had a return on equity of 55.62% and a net margin of 27.10%. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Applied Materials will post 8.02 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has approved a stock buyback plan on Friday, March 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Applied Materials during the fourth quarter worth $1,146,885,000. Capital World Investors grew its holdings in Applied Materials by 21.5% during the 1st quarter. Capital World Investors now owns 33,850,576 shares of the manufacturing equipment provider’s stock valued at $4,461,584,000 after buying an additional 5,980,777 shares during the last quarter. Cowa LLC purchased a new stake in shares of Applied Materials in the first quarter valued at $76,000. Vulcan Value Partners LLC boosted its holdings in shares of Applied Materials by 97.5% in the 3rd quarter. Vulcan Value Partners LLC now owns 6,067,153 shares of the manufacturing equipment provider’s stock valued at $781,025,000 after purchasing an additional 2,995,539 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Applied Materials by 10.5% in the 4th quarter. Capital International Investors now owns 23,268,369 shares of the manufacturing equipment provider’s stock worth $3,661,525,000 after purchasing an additional 2,209,223 shares during the period. 77.90% of the stock is owned by institutional investors.

Applied Materials Company Profile (Get Rating)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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