Morgan Stanley Issues Pessimistic Forecast for Applied Materials (NASDAQ:AMAT) Stock Price

Applied Materials (NASDAQ:AMAT) had its target price dropped by equities research analysts at Morgan Stanley from $185.00 to $179.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the manufacturing equipment provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 3.76% from the stock’s current price.

Several other brokerages have also recently weighed in on AMAT. Citigroup lowered their price target on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research report on Tuesday, October 8th. Susquehanna lowered their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday. UBS Group reduced their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Stifel Nicolaus cut 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. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $223.86.

Applied Materials Stock Performance

AMAT opened at $186.00 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials has a fifty-two week low of $141.94 and a fifty-two week high of $255.89. The company has a fifty day moving average of $190.88 and a 200 day moving average of $207.13. The stock has a market capitalization of $153.34 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Applied Materials will post 8.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&G Plc acquired a new position in Applied Materials during the 1st quarter worth approximately $2,645,000. Nicolet Advisory Services LLC increased its holdings in Applied Materials by 7.6% in the first quarter. Nicolet Advisory Services LLC now owns 2,827 shares of the manufacturing equipment provider’s stock valued at $595,000 after buying an additional 200 shares during the last quarter. TIAA Trust National Association raised its stake in Applied Materials by 0.6% in the first quarter. TIAA Trust National Association now owns 52,373 shares of the manufacturing equipment provider’s stock valued at $10,801,000 after buying an additional 328 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Applied Materials by 218.9% during the 1st quarter. Acadian Asset Management LLC now owns 825,308 shares of the manufacturing equipment provider’s stock worth $170,182,000 after buying an additional 566,516 shares during the last quarter. Finally, Patten & Patten Inc. TN lifted its holdings in Applied Materials by 5.4% during the 1st quarter. Patten & Patten Inc. TN now owns 11,833 shares of the manufacturing equipment provider’s stock worth $2,440,000 after buying an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.