Applied Materials (NASDAQ:AMAT) Price Target Cut to $210.00 by Analysts at Mizuho

Applied Materials (NASDAQ:AMATFree Report) had its price objective trimmed by Mizuho from $220.00 to $210.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the manufacturing equipment provider’s stock.

AMAT has been the subject of several other research reports. Wells Fargo & Company decreased their price target on Applied Materials from $220.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Sanford C. Bernstein dropped their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Finally, Susquehanna dropped their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.71.

Get Our Latest Analysis on AMAT

Applied Materials Stock Performance

NASDAQ:AMAT opened at $171.65 on Friday. The stock’s 50-day moving average is $173.91 and its 200-day moving average is $193.18. The stock has a market cap of $139.67 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53. Applied Materials has a 1-year low of $148.48 and a 1-year high of $255.89. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMATGet Free Report) last released 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 39.26%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Applied Materials will post 9.48 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, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is presently 18.58%.

Hedge Funds Weigh In On Applied Materials

Several large investors have recently added to or reduced their stakes in AMAT. EdgePoint Investment Group Inc. lifted its holdings in shares of Applied Materials by 341.0% in the third quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock valued at $577,288,000 after purchasing an additional 2,209,218 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Applied Materials by 67.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after acquiring an additional 1,884,153 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Applied Materials by 29.8% in the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after acquiring an additional 1,509,439 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Applied Materials by 262.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after purchasing an additional 1,006,937 shares during the last quarter. Finally, Alkeon Capital Management LLC lifted its position in shares of Applied Materials by 87.7% during the third quarter. Alkeon Capital Management LLC now owns 1,877,133 shares of the manufacturing equipment provider’s stock valued at $379,275,000 after purchasing an additional 877,133 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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