Mizuho Increases Applied Materials (NASDAQ:AMAT) Price Target to $220.00

Applied Materials (NASDAQ:AMAT) had its price objective lifted by Mizuho from $195.00 to $220.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the manufacturing equipment provider’s stock. Mizuho’s price target would suggest a potential upside of 10.39% from the stock’s current price.

A number of other research firms have also weighed in on AMAT. TD Cowen decreased their target price on Applied Materials from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Wall Street Zen cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Morgan Stanley lifted their price objective on shares of Applied Materials from $158.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Bank of America reduced their price objective on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus reduced their price objective on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $204.74.

Applied Materials Stock Up 1.1%

Shares of Applied Materials stock opened at $199.29 on Monday. The business’s 50 day simple moving average is $173.69 and its 200 day simple moving average is $165.38. Applied Materials has a 52-week low of $123.74 and a 52-week high of $247.52. The firm has a market cap of $159.93 billion, a PE ratio of 24.24, a P/E/G ratio of 2.19 and a beta of 1.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 EPS. On average, analysts predict that Applied Materials will post 9.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 562 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares of the company’s stock, valued at $946,580. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Applied Materials

Institutional investors and hedge funds have recently bought and sold shares of the company. Skye Global Management LP bought a new stake in Applied Materials during the fourth quarter worth about $45,862,000. Value Partners Investments Inc. lifted its holdings in shares of Applied Materials by 8.7% in the fourth quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider’s stock worth $1,608,000 after acquiring an additional 793 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. bought a new position in shares of Applied Materials in the first quarter worth about $230,000. Townsquare Capital LLC lifted its holdings in shares of Applied Materials by 15.6% in the fourth quarter. Townsquare Capital LLC now owns 71,577 shares of the manufacturing equipment provider’s stock worth $11,640,000 after acquiring an additional 9,672 shares during the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of Applied Materials by 0.9% in the fourth quarter. TD Asset Management Inc. now owns 1,538,743 shares of the manufacturing equipment provider’s stock worth $250,246,000 after acquiring an additional 13,667 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

About Applied Materials

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.