TD Cowen Has Lowered Expectations for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its price objective reduced by analysts at TD Cowen from $250.00 to $230.00 in a report issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the manufacturing equipment provider’s stock. TD Cowen’s price objective suggests a potential upside of 23.66% from the company’s current price.

A number of other equities analysts also recently weighed in on AMAT. JPMorgan Chase & Co. lifted their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday. Morgan Stanley reduced their price objective on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday. UBS Group cut their target price on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Susquehanna dropped their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.90.

Applied Materials Stock Up 1.8 %

Shares of NASDAQ:AMAT opened at $186.00 on Friday. The business has a fifty day simple moving average of $190.88 and a 200 day simple moving average of $207.13. Applied Materials has a 12-month low of $141.94 and a 12-month high of $255.89. The firm has a market cap of $153.34 billion, a P/E ratio of 20.90, a P/E/G ratio of 2.24 and a beta of 1.56. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the business earned $1.90 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Analysts predict that Applied Materials will post 8.51 earnings per share for the current year.

Institutional Investors Weigh In On Applied Materials

Several institutional investors have recently added to or reduced their stakes in AMAT. Van ECK Associates Corp raised its holdings in Applied Materials by 29.8% during 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 acquiring an additional 1,509,439 shares during the period. WoodTrust Financial Corp boosted its stake in Applied Materials by 47.0% during 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 during the period. Victory Capital Management Inc. increased its stake in Applied Materials by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock worth $230,158,000 after acquiring an additional 15,183 shares during the last quarter. Stiles Financial Services Inc raised its stake 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 purchasing an additional 3,389 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Applied Materials by 89.3% during the second quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after purchasing an additional 4,239 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.