Applied Materials (NASDAQ:AMAT) Price Target Cut to $235.00 by Analysts at Stifel Nicolaus

Applied Materials (NASDAQ:AMAT) had its target price lowered by equities research analysts at Stifel Nicolaus from $250.00 to $235.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the manufacturing equipment provider’s stock. Stifel Nicolaus’ target price points to a potential upside of 29.91% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Evercore ISI reduced their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Friday, November 15th. The Goldman Sachs Group reduced their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Needham & Company LLC reduced their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, TD Cowen reduced their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.00.

Applied Materials Stock Performance

AMAT opened at $180.89 on Tuesday. The firm has a market cap of $147.01 billion, a PE ratio of 21.01, a P/E/G ratio of 1.86 and a beta of 1.53. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $175.20 and a 200-day simple moving average of $184.87. Applied Materials has a fifty-two week low of $158.96 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $2.12 EPS. As a group, equities analysts predict that Applied Materials will post 9.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Applied Materials

Institutional investors have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in Applied Materials during the fourth quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new stake in Applied Materials during the fourth quarter worth about $28,000. YANKCOM Partnership acquired a new stake in Applied Materials during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials during the third quarter worth about $37,000. Finally, DT Investment Partners LLC lifted its stake in Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

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.