Applied Materials (NASDAQ:AMAT) Price Target Lowered to $65.00 at Deutsche Bank

Applied Materials (NASDAQ:AMAT) had its price target trimmed by Deutsche Bank from $75.00 to $65.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the manufacturing equipment provider’s stock.

A number of other research firms have also issued reports on AMAT. Citigroup reduced their price target on shares of Applied Materials from $76.00 to $58.00 and set a buy rating for the company in a research report on Tuesday. Credit Suisse Group increased their price target on shares of Applied Materials from $70.00 to $85.00 and gave the stock an outperform rating in a research report on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of Applied Materials from $72.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, February 13th. KeyCorp increased their price target on shares of Applied Materials from $70.00 to $86.00 and gave the stock an overweight rating in a research report on Thursday, February 13th. Finally, BidaskClub lowered shares of Applied Materials from a buy rating to a hold rating in a research report on Saturday, March 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Applied Materials has a consensus rating of Buy and an average price target of $67.38.

Shares of NASDAQ AMAT traded down $0.41 during mid-day trading on Tuesday, reaching $44.73. The company had a trading volume of 11,528,883 shares, compared to its average volume of 9,818,816. The stock has a fifty day moving average of $56.79 and a two-hundred day moving average of $56.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.60 and a current ratio of 2.36. The company has a market capitalization of $36.89 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.97 and a beta of 1.48. Applied Materials has a 12-month low of $36.64 and a 12-month high of $69.44.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.11 billion. Applied Materials had a net margin of 18.83% and a return on equity of 36.15%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Sell-side analysts forecast that Applied Materials will post 4.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 21st will be issued a $0.22 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.88 dividend on an annualized basis and a yield of 1.97%. This is an increase from Applied Materials’s previous quarterly dividend of $0.21. Applied Materials’s dividend payout ratio is currently 27.63%.

In other Applied Materials news, Director Stephen R. Forrest sold 2,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $67.40, for a total transaction of $134,800.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AMAT. Thrivent Financial for Lutherans boosted its position in shares of Applied Materials by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 42,104 shares of the manufacturing equipment provider’s stock valued at $2,570,000 after acquiring an additional 151 shares during the period. Wedbush Securities Inc. lifted its position in Applied Materials by 1.9% in the fourth quarter. Wedbush Securities Inc. now owns 8,679 shares of the manufacturing equipment provider’s stock worth $530,000 after purchasing an additional 159 shares during the period. Cerebellum GP LLC lifted its position in Applied Materials by 1.9% in the fourth quarter. Cerebellum GP LLC now owns 9,041 shares of the manufacturing equipment provider’s stock worth $552,000 after purchasing an additional 172 shares during the period. Optimum Investment Advisors lifted its position in Applied Materials by 4.8% in the fourth quarter. Optimum Investment Advisors now owns 4,400 shares of the manufacturing equipment provider’s stock worth $269,000 after purchasing an additional 200 shares during the period. Finally, KCM Investment Advisors LLC lifted its position in Applied Materials by 2.1% in the fourth quarter. KCM Investment Advisors LLC now owns 9,894 shares of the manufacturing equipment provider’s stock worth $604,000 after purchasing an additional 201 shares during the period. Institutional investors own 80.81% of the company’s stock.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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The Fly

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

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