JPMorgan Chase & Co. Cuts Applied Materials (NASDAQ:AMAT) Price Target to $158.00

Applied Materials (NASDAQ:AMATGet Rating) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $174.00 to $158.00 in a research note issued to investors on Friday, The Fly reports. JPMorgan Chase & Co.‘s price target suggests a potential upside of 42.68% from the company’s current price.

A number of other brokerages also recently weighed in on AMAT. UBS Group decreased their price objective on shares of Applied Materials from $130.00 to $120.00 in a research report on Friday. Cowen decreased their price objective on shares of Applied Materials from $190.00 to $160.00 in a research report on Friday. Citigroup upped their price objective on shares of Applied Materials from $178.00 to $180.00 in a research report on Thursday, February 17th. Wells Fargo & Company decreased their price objective on shares of Applied Materials from $180.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. Finally, Barclays reduced their price target on shares of Applied Materials from $150.00 to $125.00 in a research report on Friday. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $161.00.

NASDAQ:AMAT opened at $110.74 on Friday. Applied Materials has a one year low of $102.99 and a one year high of $167.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.51. The firm has a market cap of $97.83 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.38 and a beta of 1.44. The firm’s fifty day moving average is $120.15 and its two-hundred day moving average is $136.53.

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

Applied Materials announced that its board has authorized a stock repurchase plan on Friday, March 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional investors have recently bought and sold shares of the company. Monolith Advisors purchased a new stake in shares of Applied Materials in the 4th quarter valued at approximately $25,000. Center for Financial Planning Inc. purchased a new stake in shares of Applied Materials in the 1st quarter valued at approximately $25,000. Hanson & Doremus Investment Management grew its stake in shares of Applied Materials by 1,538.5% in the 4th quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment provider’s stock valued at $34,000 after buying an additional 200 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Applied Materials in the 4th quarter valued at approximately $35,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of Applied Materials in the 4th quarter valued at approximately $35,000. 77.90% of the stock is owned by institutional investors and hedge funds.

About Applied Materials (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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