Wells Fargo & Company Lowers Applied Materials (NASDAQ:AMAT) Price Target to $205.00

Applied Materials (NASDAQ:AMAT) had its price target dropped by equities research analysts at Wells Fargo & Company from $215.00 to $205.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the manufacturing equipment provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 26.73% from the stock’s previous close.

A number of other analysts have also issued reports on AMAT. Morgan Stanley lifted their target price on shares of Applied Materials from $169.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday. B. Riley dropped their target price on Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Barclays raised their price target on Applied Materials from $160.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, July 28th. Citigroup lifted their price target on Applied Materials from $190.00 to $220.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, Wolfe Research dropped their price target on shares of Applied Materials from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.84.

Applied Materials Stock Performance

NASDAQ AMAT opened at $161.76 on Friday. The business has a 50 day moving average price of $184.18 and a 200 day moving average price of $166.65. The company has a market capitalization of $129.81 billion, a P/E ratio of 19.28, a PEG ratio of 1.80 and a beta of 1.70. Applied Materials has a 1-year low of $123.74 and a 1-year high of $215.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts expect that Applied Materials will post 9.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Applied Materials 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 value of $100,373.20. Following the completion of the transaction, the chief accounting officer directly owned 5,300 shares of the company’s stock, valued at $946,580. This represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Shelton Wealth Management LLC raised its position in shares of Applied Materials by 1.5% in the 2nd quarter. Shelton Wealth Management LLC now owns 3,398 shares of the manufacturing equipment provider’s stock valued at $622,000 after purchasing an additional 51 shares in the last quarter. Octavia Wealth Advisors LLC increased its stake in shares of Applied Materials by 0.8% in the second quarter. Octavia Wealth Advisors LLC now owns 6,200 shares of the manufacturing equipment provider’s stock worth $1,135,000 after buying an additional 51 shares during the last quarter. Narus Financial Partners LLC raised its holdings in Applied Materials by 3.8% in the second quarter. Narus Financial Partners LLC now owns 1,433 shares of the manufacturing equipment provider’s stock valued at $262,000 after acquiring an additional 52 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in Applied Materials by 2.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,958 shares of the manufacturing equipment provider’s stock valued at $358,000 after acquiring an additional 52 shares during the last quarter. Finally, Encompass Wealth Advisors LLC grew its holdings in Applied Materials by 3.4% during the 2nd quarter. Encompass Wealth Advisors LLC now owns 1,601 shares of the manufacturing equipment provider’s stock worth $293,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds 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.