Applied Materials (NASDAQ:AMAT) Price Target Raised to $165.00

Applied Materials (NASDAQ:AMAT) had its target price lifted by research analysts at Susquehanna from $155.00 to $165.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the manufacturing equipment provider’s stock. Susquehanna’s target price would suggest a potential downside of 17.03% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Mizuho decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Needham & Company LLC reduced their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Evercore ISI dropped their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Stifel Nicolaus dropped their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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. One equities 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 company. According to data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Price Performance

NASDAQ:AMAT traded up $6.00 during trading hours on Wednesday, hitting $198.87. 466,940 shares of the stock were exchanged, compared to its average volume of 6,064,039. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $173.29 and its 200 day moving average price is $189.87. The company has a market cap of $161.82 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.96 and a beta of 1.53. Applied Materials has a 52-week low of $158.96 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 earnings per share. As a group, equities research analysts anticipate that Applied Materials will post 9.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Applied Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clean Yield Group purchased a new position in Applied Materials in the 3rd quarter valued at about $33,000. First PREMIER Bank boosted its position in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the 3rd quarter valued at about $37,000. DT Investment Partners LLC boosted its position in Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares during the last quarter. Finally, City Holding Co. purchased a new position in Applied Materials in the 4th quarter valued at about $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.