Mizuho Issues Pessimistic Forecast for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its price objective decreased by Mizuho from $220.00 to $200.00 in a research note released on Friday,Benzinga reports. Mizuho currently has an outperform rating on the manufacturing equipment provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup increased their price objective on Applied Materials from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, July 7th. JPMorgan Chase & Co. dropped their price objective on Applied Materials from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Wolfe Research dropped their price objective on Applied Materials from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. The Goldman Sachs Group initiated coverage on Applied Materials in a report on Thursday, July 10th. They issued a “buy” rating and a $225.00 price objective for the company. Finally, Cantor Fitzgerald set a $220.00 target price on Applied Materials and gave the company an “overweight” rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.84.

Applied Materials Price Performance

AMAT opened at $161.76 on Friday. 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. The stock’s 50 day simple moving average is $184.18 and its 200 day simple moving average is $166.71. The firm has a market cap of $129.81 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.10 and a beta of 1.70.

Applied Materials (NASDAQ:AMAT) last released 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 return on equity of 41.31% and a net margin of 23.88%. The business had revenue of $7.30 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the business posted $2.12 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that Applied Materials will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.1%. Applied Materials’s dividend payout ratio (DPR) is presently 21.93%.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value 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 approximately $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Institutional Trading of Applied Materials

Institutional investors and hedge funds have recently modified their holdings of the business. Runnymede Capital Advisors Inc. increased its holdings in shares of Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Applied Materials in the 1st quarter worth $29,000. Maseco LLP bought a new stake in shares of Applied Materials in the 2nd quarter worth $30,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Applied Materials by 435.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider’s stock worth $31,000 after acquiring an additional 174 shares during the period. Finally, Activest Wealth Management grew its holdings in shares of Applied Materials by 5,325.0% in the first quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider’s stock worth $31,000 after acquiring an additional 213 shares during the period. Institutional investors 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.