Applied Materials (NASDAQ:AMAT) Price Target Cut to $210.00 by Analysts at Sanford C. Bernstein

Applied Materials (NASDAQ:AMAT) had its price target reduced by research analysts at Sanford C. Bernstein from $220.00 to $210.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the manufacturing equipment provider’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 22.58% from the company’s current price.

Other research analysts have also issued reports about the stock. Susquehanna cut their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Needham & Company LLC dropped their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.48.

Applied Materials Trading Down 1.1 %

Shares of AMAT opened at $171.32 on Friday. The company has a 50 day simple moving average of $188.46 and a two-hundred day simple moving average of $204.76. Applied Materials has a 1 year low of $144.57 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The firm has a market cap of $141.24 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.61 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.96 billion. During the same period last year, the firm posted $2.12 earnings per share. Applied Materials’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts expect that Applied Materials will post 9.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted 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 valued at $1,327,707,000 after purchasing an additional 1,509,439 shares during the period. WoodTrust Financial Corp increased its holdings in Applied Materials by 47.0% in the third quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock valued at $13,722,000 after buying an additional 21,699 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Applied Materials by 1.4% in the third quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock valued at $230,158,000 after buying an additional 15,183 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Applied Materials by 62.6% in the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock valued at $343,138,000 after buying an additional 653,739 shares in the last quarter. Finally, Stiles Financial Services Inc increased its holdings in Applied Materials by 252.0% in the third quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock valued at $957,000 after buying an additional 3,389 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

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.