Morgan Stanley Cuts Applied Materials (NASDAQ:AMAT) Price Target to $133.00

Applied Materials (NASDAQ:AMATGet Rating) had its target price dropped by analysts at Morgan Stanley from $160.00 to $133.00 in a note issued to investors on Friday, The Fly reports. Morgan Stanley’s price target would suggest a potential upside of 20.10% from the stock’s current price.

AMAT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Applied Materials from $145.00 to $135.00 in a report on Friday. StockNews.com began coverage on Applied Materials in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Citigroup increased their target price on Applied Materials from $178.00 to $180.00 in a report on Thursday, February 17th. Wells Fargo & Company reduced their target price on Applied Materials from $180.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, April 18th. Finally, Cowen reduced their target price on Applied Materials from $190.00 to $160.00 in a report on Friday. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $161.00.

AMAT stock opened at $110.74 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $120.15 and its 200 day simple moving average is $136.53. Applied Materials has a 1-year low of $102.99 and a 1-year high of $167.06. The firm has a market capitalization of $97.83 billion, a PE ratio of 15.40, a PEG ratio of 1.38 and a beta of 1.44.

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

Applied Materials declared that its board has approved 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 repurchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the business. Center for Financial Planning Inc. bought a new position in Applied Materials in the first quarter valued at about $25,000. Monolith Advisors bought a new position in Applied Materials in the fourth quarter valued at about $25,000. MV Capital Management Inc. raised its position in Applied Materials by 76.1% in the third quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock valued at $30,000 after purchasing an additional 102 shares during the last quarter. Fortis Advisors LLC bought a new position in Applied Materials in the third quarter valued at about $32,000. Finally, Disciplined Investments LLC raised its position in Applied Materials by 67.3% in the first quarter. Disciplined Investments LLC now owns 251 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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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