Applied Materials (AMAT) Price Target Lowered to $65.00 at Bank of America

Applied Materials (NASDAQ:AMAT) had its target price decreased by Bank of America from $70.00 to $65.00 in a report released on Friday morning. Bank of America currently has a buy rating on the manufacturing equipment provider’s stock.

Other equities research analysts have also issued research reports about the stock. Citigroup lifted their target price on shares of Applied Materials from $70.00 to $78.00 and gave the company a buy rating in a research note on Monday, May 14th. Cowen initiated coverage on shares of Applied Materials in a research note on Monday, May 14th. They set a market perform rating and a $60.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Applied Materials from $71.00 to $75.00 and gave the company a buy rating in a research note on Friday, May 18th. B. Riley decreased their target price on shares of Applied Materials from $77.00 to $70.00 and set a buy rating for the company in a research note on Friday, May 18th. Finally, Goldman Sachs Group lowered shares of Applied Materials from a buy rating to a neutral rating in a research note on Friday, May 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $61.84.

Applied Materials stock traded down $3.66 during midday trading on Friday, reaching $43.77. The stock had a trading volume of 52,575,384 shares, compared to its average volume of 13,810,888. Applied Materials has a twelve month low of $42.62 and a twelve month high of $62.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.60. The firm has a market capitalization of $48.52 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.80 and a beta of 1.63.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Applied Materials had a net margin of 19.24% and a return on equity of 51.65%. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue was up 19.3% on a year-over-year basis. equities analysts forecast that Applied Materials will post 4.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 23rd will be issued a $0.20 dividend. The ex-dividend date is Wednesday, August 22nd. This represents a $0.80 annualized dividend and a yield of 1.83%. Applied Materials’s dividend payout ratio (DPR) is presently 24.62%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Andra AP fonden raised its holdings in Applied Materials by 9.1% in the 2nd quarter. Andra AP fonden now owns 143,200 shares of the manufacturing equipment provider’s stock worth $6,614,000 after acquiring an additional 12,000 shares during the period. Schroder Investment Management Group raised its holdings in Applied Materials by 7.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,541,480 shares of the manufacturing equipment provider’s stock worth $69,814,000 after acquiring an additional 102,206 shares during the period. Carnegie Capital Asset Management LLC raised its holdings in Applied Materials by 16.7% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 34,538 shares of the manufacturing equipment provider’s stock worth $1,656,000 after acquiring an additional 4,950 shares during the period. Amussen Hunsaker Associates LLC bought a new position in Applied Materials in the 2nd quarter worth $162,000. Finally, Guinness Asset Management Ltd raised its holdings in Applied Materials by 30.0% in the 2nd quarter. Guinness Asset Management Ltd now owns 141,100 shares of the manufacturing equipment provider’s stock worth $6,518,000 after acquiring an additional 32,540 shares during the period. Hedge funds and other institutional investors own 78.36% of the company’s stock.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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