Applied Materials (NASDAQ:AMAT) Price Target Cut to $88.00 by Analysts at Morgan Stanley

Applied Materials (NASDAQ:AMATGet Rating) had its price objective trimmed by Morgan Stanley from $89.00 to $88.00 in a research report report published on Monday morning, Stock Target Advisor reports. The firm currently has an equal weight rating on the manufacturing equipment provider’s stock.

Other research analysts also recently issued reports about the stock. Cowen increased their price objective on shares of Applied Materials from $100.00 to $135.00 and gave the company an outperform rating in a research note on Friday. UBS Group increased their price objective on shares of Applied Materials from $90.00 to $98.00 and gave the company a neutral rating in a research note on Friday. Mizuho increased their price objective on shares of Applied Materials from $90.00 to $115.00 and gave the company a buy rating in a research note on Friday. Needham & Company LLC raised their price target on shares of Applied Materials from $90.00 to $120.00 and gave the stock a buy rating in a research report on Friday. Finally, TheStreet downgraded shares of Applied Materials from a b- rating to a c+ rating in a research report on Tuesday, October 11th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials has an average rating of Moderate Buy and a consensus price target of $120.64.

Applied Materials Price Performance

Shares of AMAT stock opened at $105.14 on Monday. The company has a market capitalization of $90.45 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 3.17 and a beta of 1.49. The firm has a fifty day simple moving average of $88.83 and a 200-day simple moving average of $97.24. The company has a current ratio of 2.16, a quick ratio of 1.35 and a debt-to-equity ratio of 0.45. Applied Materials has a twelve month low of $71.12 and a twelve month high of $167.06.

Applied Materials (NASDAQ:AMATGet Rating) last posted its quarterly earnings data on Thursday, November 17th. The manufacturing equipment provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.30. Applied Materials had a net margin of 25.31% and a return on equity of 56.62%. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the firm posted $1.94 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Applied Materials will post 6.66 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $1.04 annualized dividend and a yield of 0.99%. Applied Materials’s payout ratio is 13.98%.

Hedge Funds Weigh In On Applied Materials

Several large investors have recently bought and sold shares of the stock. FourThought Financial LLC increased its stake in Applied Materials by 12.1% during the 3rd quarter. FourThought Financial LLC now owns 52,310 shares of the manufacturing equipment provider’s stock valued at $4,286,000 after buying an additional 5,631 shares during the period. Power Corp of Canada grew its stake in shares of Applied Materials by 19.7% in the 3rd quarter. Power Corp of Canada now owns 31,470 shares of the manufacturing equipment provider’s stock worth $2,578,000 after purchasing an additional 5,190 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its stake in shares of Applied Materials by 15.3% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 334,088 shares of the manufacturing equipment provider’s stock worth $27,372,000 after purchasing an additional 44,300 shares during the last quarter. River & Mercantile Asset Management LLP grew its stake in shares of Applied Materials by 22.0% in the 3rd quarter. River & Mercantile Asset Management LLP now owns 46,570 shares of the manufacturing equipment provider’s stock worth $3,816,000 after purchasing an additional 8,390 shares during the last quarter. Finally, National Pension Service grew its stake in shares of Applied Materials by 2.0% in the 3rd quarter. National Pension Service now owns 1,384,546 shares of the manufacturing equipment provider’s stock worth $116,883,000 after purchasing an additional 26,586 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

About Applied Materials

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Applied Materials, Inc engages in the provision of 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.

Further Reading

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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