Applied Materials (NASDAQ:AMAT) Price Target Lowered to $200.00 at Deutsche Bank Aktiengesellschaft

Applied Materials (NASDAQ:AMAT) had its price target reduced by Deutsche Bank Aktiengesellschaft from $220.00 to $200.00 in a research report report published on Friday,Benzinga reports. They currently have a hold rating on the manufacturing equipment provider’s stock.

Several other equities research analysts have also recently commented on AMAT. JPMorgan Chase & Co. boosted their price target on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Morgan Stanley decreased their target price on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup cut their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Wells Fargo & Company dropped their price target on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Dbs Bank cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Price Performance

AMAT opened at $170.73 on Friday. The company has a fifty day moving average price of $190.75 and a two-hundred day moving average price of $206.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials has a 52 week low of $144.57 and a 52 week high of $255.89. The firm has a market capitalization of $140.75 billion, a PE ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.71%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same quarter in the previous year, the business earned $2.12 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Applied Materials will post 9.52 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 annualized dividend and a yield of 0.94%. Applied Materials’s dividend payout ratio is currently 18.58%.

Hedge Funds Weigh In On Applied Materials

Several hedge funds have recently bought and sold shares of AMAT. JT Stratford LLC lifted its holdings in shares of Applied Materials by 0.4% in the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock worth $2,246,000 after acquiring an additional 48 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in Applied Materials by 3.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock valued at $367,000 after buying an additional 49 shares during the last quarter. Optimum Investment Advisors increased its position in Applied Materials by 1.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after purchasing an additional 50 shares during the period. SlateStone Wealth LLC increased its position in Applied Materials by 4.7% during the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock valued at $261,000 after purchasing an additional 50 shares during the period. Finally, Forum Financial Management LP increased its position in Applied Materials by 0.6% during the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after purchasing an additional 53 shares during the period. Hedge funds and other 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.