TD Cowen Lowers Applied Materials (NASDAQ:AMAT) Price Target to $200.00

Applied Materials (NASDAQ:AMAT) had its price target lowered by equities research analysts at TD Cowen from $220.00 to $200.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the manufacturing equipment provider’s stock. TD Cowen’s price objective indicates a potential upside of 23.64% from the company’s current price.

Several other research analysts have also weighed in on AMAT. Summit Insights lowered Applied Materials from a “buy” rating to a “hold” rating in a research report on Friday. Mizuho dropped their target price on Applied Materials from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday. DZ Bank cut shares of Applied Materials from a “hold” rating to a “sell” rating and set a $150.00 price target for the company. in a report on Friday. Rothschild & Co Redburn lowered shares of Applied Materials from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a research note on Monday, July 7th. Finally, B. Riley cut their target price on shares of Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $194.84.

Applied Materials Stock Down 14.1%

AMAT stock opened at $161.76 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The firm has a market capitalization of $129.81 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.80 and a beta of 1.70. Applied Materials has a 52-week low of $123.74 and a 52-week high of $215.70. The company’s 50 day simple moving average is $184.18 and its 200-day simple moving average is $166.65.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.12. Applied Materials had a net margin of 23.88% and a return on equity of 41.31%. The firm had revenue of $7.30 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the company posted $2.12 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Applied Materials will post 9.38 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Applied Materials

Several large investors have recently modified their holdings of AMAT. Eagle Capital Management LLC lifted its position in Applied Materials by 1.8% during the 4th quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider’s stock worth $2,603,000 after acquiring an additional 290 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Applied Materials by 28.0% in the fourth quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider’s stock worth $2,061,000 after purchasing an additional 2,771 shares during the period. Value Partners Investments Inc. increased its stake 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 purchasing an additional 793 shares during the period. Jump Financial LLC lifted its position in shares of Applied Materials by 69.9% during the 4th quarter. Jump Financial LLC now owns 4,829 shares of the manufacturing equipment provider’s stock worth $785,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in Applied Materials by 46.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 3,328 shares of the manufacturing equipment provider’s stock valued at $541,000 after purchasing an additional 1,059 shares during the period. 80.56% of the stock is owned by institutional investors.

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.