Applied Materials (NASDAQ:AMAT) Given New $200.00 Price Target at Deutsche Bank Aktiengesellschaft

Applied Materials (NASDAQ:AMAT) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $220.00 to $200.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a hold rating on the manufacturing equipment provider’s stock.

A number of other equities research analysts have also recently commented on the company. UBS Group decreased their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. B. Riley reduced their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Stock Performance

Shares of AMAT stock traded down $17.12 during trading hours on Friday, reaching $168.88. 16,287,484 shares of the company traded hands, compared to its average volume of 6,137,177. The firm has a 50-day moving average price of $190.88 and a 200 day moving average price of $206.73. The company has a market cap of $139.22 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.24 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. Applied Materials has a 12-month low of $141.94 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. As a group, sell-side analysts predict that Applied Materials will post 8.51 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. Applied Materials’s dividend payout ratio is 17.98%.

Institutional Investors Weigh In On Applied Materials

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in Applied Materials in the second quarter worth $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials in the 2nd quarter worth about $28,000. PSI Advisors LLC increased its stake in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after buying an additional 56 shares during the period. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter valued at about $33,000. Finally, First PREMIER Bank boosted its position in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares during the period. 80.56% of the stock is owned by institutional investors.

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.