Mizuho Lowers Applied Materials (NASDAQ:AMAT) Price Target to $195.00

Applied Materials (NASDAQ:AMAT) had its target price dropped by equities research analysts at Mizuho from $205.00 to $195.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the manufacturing equipment provider’s stock. Mizuho’s price target would indicate a potential upside of 17.77% from the stock’s previous close.

Several other research firms have also weighed in on AMAT. Morgan Stanley lowered their price objective on shares of Applied Materials from $164.00 to $162.00 and set an “underweight” rating on the stock in a research note on Friday. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays reduced their target price on shares of Applied Materials from $190.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Bank of America reduced their target price on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Applied Materials from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $199.48.

Applied Materials Stock Down 5.3%

Applied Materials stock opened at $165.57 on Friday. The firm has a market capitalization of $134.52 billion, a PE ratio of 21.64, a P/E/G ratio of 1.81 and a beta of 1.71. The company’s 50-day moving average is $149.19 and its 200-day moving average is $165.35. Applied Materials has a fifty-two week low of $123.74 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Sell-side analysts anticipate that Applied Materials will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has initiated a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the completion of the sale, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. This represents a 6.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary E. Dickerson purchased 50,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Institutional Trading of Applied Materials

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Woodline Partners LP lifted its holdings in shares of Applied Materials by 44.1% during the 1st quarter. Woodline Partners LP now owns 811,978 shares of the manufacturing equipment provider’s stock worth $117,834,000 after acquiring an additional 248,371 shares during the period. Semmax Financial Advisors Inc. bought a new stake in shares of Applied Materials during the 1st quarter worth approximately $449,000. Empowered Funds LLC lifted its holdings in shares of Applied Materials by 173.6% during the 1st quarter. Empowered Funds LLC now owns 135,001 shares of the manufacturing equipment provider’s stock worth $19,591,000 after acquiring an additional 85,667 shares during the period. MBB Public Markets I LLC bought a new stake in shares of Applied Materials during the 1st quarter worth approximately $281,000. Finally, Arete Wealth Advisors LLC increased its position in Applied Materials by 32.3% during the 1st quarter. Arete Wealth Advisors LLC now owns 10,889 shares of the manufacturing equipment provider’s stock worth $1,580,000 after purchasing an additional 2,661 shares in the last quarter. 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.